China LV demand continues to drop, rest of world increases
Automotive World has made its sixth consecutive monthly downgrade to the global light vehicle sales forecast, now anticipating a 2.5% decline to 87.4 million units. This almost entirely reflects downturn in China, with some minor contributions from Turkey.
Elsewhere demand rose by a robust 11.1%. Half of the top 20 markets posted double-digit growth, including five between 21-29%. The Middle East conflict has had surprisingly little effect on overall demand; in fact, it has boosted demand for fuel-efficient vehicle sales, like hybrids in the US.
For further insights, read Automotive World’s July update to the global light vehicle sales forecast.
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Originally posted on: https://www.automotiveworld.com/news/china-lv-demand-continues-to-drop-rest-of-world-increases/