Global light vehicle market sees further growth in August

Summary

• The Global Light Vehicle (LV) selling rate rose for the sixth consecutive month in August, reaching 99million units/year, from a revised figure of 97 million units/year in July. With 7.3 million units sold in August, the market has grown 9.6% YoY, with 57 million units sold year-to-date (YTD). This YTD figure has also surpassed the YTD Aug 2022 total by 10.3%.

• The USA, Western and Eastern European countries all registered double digit YoY growth, partly due to 2022 being a weak base and partly because of an alleviation in supply-side issues. Chinese sales grew 5.2%, driven by a booming export sector. However, the domestic PV market in China fell slightly because of subdued consumer confidence.

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