For April, the Global Light Vehicle (LV) selling rate is estimated to be 92 million units/year, building on the improvement seen in March. In year-on-year (YoY) terms, the market saw another strong month of growth, with sales up 6% to 7.3 million units.
Both China and the US demonstrated a strong performance, YoY, while Western Europe continues to face challenges. In the US, the momentum from the pull-forward effect observed in March persisted, contributing to another impressive sales figure in April. Meanwhile, in China, sales have remained stable, buoyed by government stimulus measures. Conversely, Western Europe experienced a decline in sales, as EU consumer confidence plummeted to its lowest level in the past 17 months.
North America
US Light Vehicle sales grew by 11.3% YoY in April, to 1.47 million units, and increasing by 7.0% YoY on a selling day-adjusted basis. The annualized selling rate eased to 17.4 million units/year in April, from 17.8 million units/year in March. The pull-forward effect first noted in March – when consumers rushed to make purchases ahead of potential tariff-related price rises – was still present in April, but the pace of sales appeared to weaken later in the month. This could be a sign that the initial surge has ended, while average transaction prices are already rising, to US$46,054 in April, up by US$1,177 YoY, even without the full impact of tariffs being in effect.
In Canada, sales reached 179k units in April, growing by 7.8% YoY. However, the selling rate slowed to 1.78 million units/year in April, down from 2.05 million units/year in March, and the lowest rate since August 2024. Similar dynamics were observed in Canada as in the US, with consumers incentivized to buy now rather than wait and face possible price rises. Mexican LV sales totaled 116k units in April, up by 2.8% YoY. The selling rate for April was broadly in line with the previous month. Mexico has not retaliated with tariffs on vehicles imported from the US, and any economic impact from the trade war is yet to be felt.
Europe
The LV selling rate for Western Europe rose slightly to 12.8 million units in April. In YoY terms, the market was down over 2%. YTD LV sales are now down 2% as well. The region is currently experiencing several economic challenges. Growth has stagnated in major markets such as Germany and France. Furthermore, consumer confidence has dropped to its lowest point since November 2023, highlighting the prevailing concerns about the region’s economic outlook.
In Eastern Europe, the LV selling rate rose to 4.3 million units in April. Sales were down a modest 1% YoY, a relatively better result in comparison to the weak results seen in the previous two months. The Russian LV market saw a 26% YoY decline despite a 16% increase in the selling rate. Aggressive discounting temporarily boosted sales while high-interest rates and fading consumer hopes for the return of Western brands contributed to postponed purchases, prompting calls for state intervention to support the auto industry. LV sales in Turkey continue to thrive, with consumers continuing to turn to vehicles as a safeguard against rampant inflation.