Global light vehicle market falters in February

GlobalData

Mon, March 23, 2026 astatine 6:23 AM CDT 6 min read

For February, the Global Light Vehicle (LV) selling complaint improved modestly to 86.6 mn units/year, connected what was a anemic commencement to 2026. In year-on-year (YoY) terms, the marketplace declined 8.5% YoY owed to a 2nd consecutive crisp contraction successful the Chinese rider conveyance (PV) marketplace arsenic income totaled 6.0 mn units globally.

Global LV income showed signs of faltering past period arsenic some China and US saw a notable diminution successful sales. China’s steep contraction remains a cardinal resistance connected planetary income volumes arsenic consumers consciousness the effects of little argumentation support, portion successful the US, anemic EV income and affordability concerns are weighing connected LV demand. Western Europe’s February full was promising arsenic income rebounded from a anemic January figure. Looking ahead, the caller developments successful the Middle East and the ensuing daze to vigor prices and proviso chains contiguous the planetary LV marketplace with superior headwinds to income this year, keeping the outlook tilted to the downside successful the adjacent term.

North America

US Light Vehicle income fell by 3.6% YoY successful February, to 1.18 mn units. The period contained the aforesaid fig of selling days arsenic February 2025, enabling a nonstop comparison. The annualized selling complaint accelerated to 15.6 mn units/year successful February, from 14.7 mn units/year successful January. The marketplace continued to beryllium held backmost by anemic EV sales, portion affordability remains a concern. For a 2nd consecutive month, wintertime upwind whitethorn person had an impact, with a snowstorm successful the Northeast the culprit successful February. Average transaction prices reached US$45,876 successful February, down by US$327 MoM, but up by 1.8% YoY.

Canadian Light Vehicle income totaled an estimated 119k units successful February, down by 0.4% YoY, portion the selling complaint slowed to 1.95 mn units/year, from 2.01 mn units/year successful January. As has typically been the lawsuit successful caller months, the marketplace performed reasonably well, considering mediocre upwind and a hard economical and commercialized environment. In Mexico, income accrued by 2.7% YoY, to 127k units. The selling complaint eased to 1.71 mn units/year, from 1.74 mn units/year successful January, but the marketplace continues to outperform its determination peers arsenic it becomes much diverse.

Europe

The Western European LV marketplace saw a humble betterment successful February arsenic income totaled 986k units, up 1.6% YoY. The monthly selling complaint besides improved, accelerating to 14.6 mn units/year. YTD income presently basal astatine 2.27 mn units, down 2.3% from the aforesaid play successful 2025. Results crossed overmuch of Western Europe were positive, though a crisp contraction successful France acted arsenic a important headwind and weighed connected wide determination growth. In airy of caller developments successful Iran, which has disrupted vigor markets and could intensify inflationary pressures crossed the region, we person taken a somewhat much cautious outlook for the 2026 Western European PV forecast, expecting income to stay broadly level this year.