The global light vehicle (LV) market remained strong in November, with a selling rate of 95 million units/year, only slightly below October’s performance. Despite a 2% year-on-year (YoY) decline, global sales reached 8.1 million units. Year-to-date (YTD) sales stood at 83.6 million vehicles, up 4% from the same period in 2024.
In key markets like the US, Western Europe, and China, sales showed mixed results. In the US, sales decreased for the second consecutive month YoY, attributed to the removal of EV tax credits and economic challenges. However, the market held relatively well considering these headwinds. Western Europe saw stable sales in November, with Spain leading the market’s growth. In contrast, France, Italy, and the UK reported flat or weak results. China experienced a 6.4% YoY decline in the PV market, reflecting a slowdown from the strong performance seen in 2024.
In North America, US Light Vehicle sales dropped by 5.8% YoY in November, reaching 1.29 million units. Economic concerns and tariff pressures impacted sales, with the absence of EV tax credits further dampening the market. In Europe, the Western European LV market remained stable with sales of 1.09 million units. Spain emerged as the strongest market, while Germany showed modest growth. In Eastern Europe, Russia’s LV market cooled off after a front-loaded rebound in October, while Turkey’s PV market continued to grow steadily.
In Asia, Japan saw a 5.2% YoY decline in LV sales in November, extending a five-month contraction period. Korean LV sales inched up by 0.5% YoY, following previous month’s weakness driven by national holidays. In South America, Brazilian Light Vehicle sales totaled 227k units, down by 5.4% YoY, with Black Friday promotions boosting sales. Argentina reported a decline in sales for the first time since July 2024, attributed to inflation and exchange rate fluctuations.
The global vehicle market’s performance in November reflects a mix of challenges and opportunities across different regions. Despite some market contractions, the overall outlook remains positive heading into 2026. As the year comes to a close, the industry anticipates continued growth and adaptation to changing market dynamics.
