Europe grows, China sinks: global LV sales set to fall 3.7%

Automotive World’s latest forecast puts global light vehicle sales at 82.7 million units this year, a fall of 3.7%, with China still accounting for almost all of the decline. This is the country’s 12th consecutive monthly drop, and sales at the start of Q4 look weak despite new regional incentives and discounts from more than 30 brands.

Demand is still trending up in the other top 20 markets overall, although India’s boost from last year’s GST cuts is fading fast. For now, gains in some regions are partially offsetting decline in larger markets. Europe is set to grow 5.1%, helped by electric vehicle incentives and cheaper Chinese models, while North America could slip 1.9% as high prices and stress in subprime lending outweigh strong fleet and hybrid demand.