February 12, 2025

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Advances in the automotive world

Automotive growth pockets in a constrained world

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Global sales of new light vehicles have declined 12% during 2022
up to and including June, to 35.3 million units. Though
semiconductor shortages continue to constrain overall market
volumes, there are nonetheless pockets of very robust growth;
notably low emissions vehicles, and the
GreaterChina market.

The lower the emissions, the higher the
growth

Global light vehicle unit sales growth YTD

Source: Demand by S&P Global Mobility

In broad category terms, lower emissions types are growing
faster. The market for purely internal-combustion-engine vehicles
has shrunk by 18% this year and is being substantially outgrown by
both plug-in hybrids (up 26%) and pure battery electric vehicles
(up 72%). Around one in 12 vehicles sold globally (3.0 million
units), this year have been battery electric.

More than half of the world’s BEVs are now sold in
China

Global light vehicle unit sales growth YTD

Source: Demand by S&P Global Mobility

China’s BEV market is expanding at a remarkable pace. Greater
China BEV sales grew 94% in the year to June to 1.70 million units.
While China consumes 28% of the world’s new vehicle demand, the
relative size of its BEV market is greater still: Well over half
(56%) of BEVs sold globally in 2022 were in Greater China.

S&P Global Mobility’s new solution, Demand, compiles
data from over 150 sources and is the fastest global by-month light
vehicle sales and registration resource. Try Demand free at
https://ihsmarkit.com/products/demand.html




Posted 18 July 2022 by Demian Flowers, Automotive Financial Analyst, S&P Global Mobility


This article was published by S&P Global Mobility and not by S&P Global Ratings, which is a separately managed division of S&P Global.

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