Global Light Vehicle Sales Reach Second-Highest Level in October
The global light vehicle (LV) market saw its second-highest sales month of the year in October, with an annualized selling rate of 96 million units. This performance was slightly below August's peak but marked a 3% growth compared to the same period last year, reaching a total of 8.2 million vehicles sold globally.Year-to-date (YTD) figures show that 75 million vehicles have been sold as of October, representing a 5% increase from the corresponding period in 2024. Key markets such as the US, Western Europe, and China saw varied outcomes: the US experienced a notable decline attributed to the termination of EV tax credits, while sales in Western Europe showed improvement thanks to new electrification incentives. In contrast, China reported record results for October due to consumers purchas...