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Global light commercial vehicle sales plummeted to their lowest level in 14 months due to a shortage of chips.

Preliminary data collated by GlobalData suggests that the global market in August has suffered the worst month for sales since June 2020, when it first emerged from the sales turmoil caused by COVID-19. ..

So far, given data from all major markets occupied by China, SAAR in August 2021 is likely to be down 6% month-on-month or 6.6% year-on-year, just over 78 million units. .. Global Data’s model fell by more than 8% in August, although sales in China have not yet been reported. The signs so far seem to suggest that he was optimistic. Honda, Nissan and Toyota are all above that number. If anything, global sales would be worse than tentatively proposed here. Still, the market is too far to challenge the June 2020 75.1m as the latest low.

All markets report a chip shortage as a major pinch point, but this shortage has the most significant impact on the US market, with sales down 17.3% year-on-year and SAAR being the first since May 2020. It has become an invisible level. COVID-19 Recovery month after lockdown. August sales hit new post-pandemic highs in US sales plagued by chip-deficient emission dealer inventories for the third straight month, just four after SAAR hit 18.7 million It was a month.

In Western Europe, August sales weren’t significantly lower than before. They continued to be disappointed, but it is more difficult to isolate the effects of dying economic conditions from inventory shortages. In Asia, all but the Chinese market suffered disappointing sales. Both Japan and South Korea saw a slight year-on-year decrease. In India, sales increased by about 10%, but SAAR rates fell by 9% month-on-month. This seems to be a sign that some Indian OEMs issued warnings in the month when the tip crisis worsened.

Thus, anyone looking for a brighter time in the future can be disappointed. After the peak of the tip crisis appeared to have passed in July and early August, the second week of September seems to have been set to the worst crisis so far. According to GlobalData’s crisis tracking, the closure of a vehicle assembly plant is equivalent to a 62-week closure covering 87 plants worldwide.

This article was first published Global Data Automotive Intelligence Center Global light commercial vehicle sales plummeted to their lowest level in 14 months due to a shortage of chips.

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