Global sales of light vehicles fall 7.4% in 2021 compared to 2019
- Global registrations of light vehicles (passenger cars – PCs and light utility vehicles - LUVs) over the first eight months of 2021 show an increase of 16.8% compared to the first eight months of 2020 (year affected by the coronavirus crisis) but a decrease of 7,4% compared to the first eight months of 2019. The volume reached 50 million vehicles, against 43 million in 2020 and 54 million in 2019.
- The gap between 2021 and 2019 has therefore not yet been closed and it is unlikely that it will be the case before the end of the year. It is to remind that the 2019 year had already been itself down compared to 2018, and the year 2018 had also been down compared to 2017.
- Regarding passenger cars sales, they increased by 16.4% over the first eight months of 2021 compared to the first eight months of 2020, and decreased by 9.8% compared to the first eight months of 2019.
- Regarding LUVs sales, they increased by 18.5% over the first eight months of 2021 compared to the first eight months of 2020, and increased by 2.6% compared to the first eight months of 2019.
- What is quite striking when we look at the monthly sales curve for 2021 is a drop in sales from May compared to monthly sales for 2019, which is amplified until the month of August. It is seems that the chips shortage is partly responsible for this dropout but it is also perhaps a decrease in demand in developed markets which would be linked both to the uncertain economic environment but also to the policy of reducing car emissions, which would push potential customers to postpone the purchase of new vehicles and to keep their current vehicles longer.
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