Covid-19 briefing

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The global light vehicle selling rate rose to 85 million units/year in June 2022. according to GlobalData unit LMC Automotive. LMC noted that while supply issues are still impacting demand in most regions, a strong sales recovery in China, supported by the easing of lockdowns that allowed OEMs to ramp-up production as well as a new temporary tax cut for Passenger Vehicles (PVs), meant last month’s selling rate jumped up from May.

The West European selling rate remained broadly flat on the month before in June. At 11.3 million units/year, this brought the H1 2022 average to just 11.0 million units/year. New vehicle registrations remain in poor shape due to supply constraints, with selling rates below annual results during the pandemic-scarred years of 2020 and 2021.

GlobalData/LMC’s measure for YoY global sales of light vehicles

GlobalData’s measure for YoY Western Europe sales of light vehicles