According to the latest report from LMC Automotive, global light vehicle sales in November 2025, on a seasonally adjusted annualized basis, remained strong at 95 million units per year, only slightly lower than in October. On a year-on-year basis, global market sales decreased by 2.2% to 8.12 million units, while cumulative sales from January to November increased by 4% to 83.6 million units.

Performance in major markets such as the US, Western Europe, and China was mixed. US market sales declined year-on-year for the second consecutive month due to the cancellation of electric vehicle tax credits and economic headwinds. Western European market sales remained largely unchanged compared to the same period last year, but the outlook for 2026 remains relatively optimistic. In the Chinese market, sales decreased compared to the same period last year, but seasonally adjusted annualized sales continued to show strong performance. Market performance is as follows:

--North America--

US light vehicle sales in November decreased by 5.8% year-on-year to 1.29 million units. Due to one fewer selling day compared to the same period last year, sales adjusted for selling days decreased by 2.0% year-on-year. Seasonally adjusted annualized sales in November rose from 15.3 million units per year in October to 15.8 million units per year. Although the cancellation of electric vehicle tax credits again dragged down sales, other market indicators performed relatively well, considering that economic problems and cost pressures from tariffs could have led to a much more severe market downturn. The average transaction price for new cars in November fell by $207 month-on-month to $46,205, a year-on-year increase of 2.0%, lower than the overall inflation rate.

Canadian light vehicle sales in November are expected to decrease by 6.2% year-on-year to 140,000 units, while seasonally adjusted annualized sales decreased from 1.95 million units per year in October to 1.79 million units per year. Data shows that monthly car loan payments are increasing, suggesting that cost pressures are being passed on to car buyers. Mexico's November sales fell 1.3% year-on-year to 155,000 units, while the seasonally adjusted annualized sales rose from 1.63 million units/year in October to 1.71 million units/year. Promotional activities related to the "El Buen Fin" shopping festival (similar to "Black Friday") likely boosted sales in the Mexican market, but the number of selling days in November was three fewer than the same period last year, leading to a year-on-year decline in sales figures.

--Europe--

Western European light vehicle sales reached 1.09 million units in November, roughly unchanged from the same period last year. The seasonally adjusted annualized sales for the month were 14.4 million units/year, higher than the October level. Cumulative sales from January to November reached 12.2 million units (a 0.1% year-on-year increase). The sales trend was similar to October, with Spain remaining a strong performer in the region, and Germany continuing its moderate growth trajectory. In contrast, sales in France, Italy, and the UK showed flat or sluggish year-on-year performance.

Eastern European light vehicle sales in November had a seasonally adjusted annualized rate of 5 million units/year, roughly unchanged from October. After the rebound in October, the Russian light vehicle market cooled down in November, with sales falling 17% month-on-month, but still growing 0.8% year-on-year, the second highest level of the year. The slowdown in sales after October confirms that the increase in the car recycling fee from December 1st largely led to a pre-emptive release of demand, rather than a sign of a sustained market recovery. Turkish passenger car sales reached 105,000 units in November, marking the ninth consecutive month of year-on-year growth, with seasonally adjusted annualized sales roughly unchanged from the same period last year. Cumulative sales from January to November increased by 11% year-on-year to 938,000 units, and annual sales are expected to exceed 1 million units for the first time.

--China--

Chinese passenger car sales fell 6.4% year-on-year in November. This was due to exceptionally strong sales in the last few months of 2024, when consumers hoped to benefit from the government's trade-in subsidy program (which was eventually extended). Nevertheless, based on seasonally adjusted annualized sales figures, the market still shows strong momentum, although it has cooled down somewhat compared to the booming performance in individual months during the summer and autumn. Sales in the month reached their highest level of the year, which is consistent with expectations for November. Seasonally adjusted annualized sales in December are expected to remain largely unchanged from this month, providing a strong finish to the year's robust growth.

Following the Chinese government's announcement of increased efforts to promote automobile consumption, the agency adjusted its medium- and long-term forecasts for the Chinese market and maintained its previous forecast this month. The government's statement means that more consumers will bring forward their car purchase decisions to the second half of 2026, thus weakening demand in 2027 and 2028 (assuming the support measures are not extended). However, there is currently no clear information on when the government support measures will expire.

--Other Asian Regions--

In November, Japanese light vehicle sales fell by 5.2% year-on-year to 367,000 units, marking the fifth consecutive month of decline. Market recovery has been significantly hampered in recent months, with passenger car sales falling by 4.7% year-on-year from July to November 2025, while commercial vehicle sales remained flat during the same period. Seasonally adjusted annualized sales in the previous month showed a strong performance, slightly stemming the market decline, but this indicator fell sharply by 12.3% month-on-month in November, making a market rebound in the last month of the year unlikely. Increasing repayment burdens are suppressing consumer spending, leading to a sluggish market.

After a significant decline last month, South Korean light vehicle sales increased slightly by 0.5% year-on-year to 146,000 units in November. The Chuseok holiday was the main reason for the low sales last month, and the industry generally expected sales to return to a stable year-on-year level. On the other hand, seasonally adjusted annualized sales reached 1.75 million units/year in the month, the third highest level of the year.

--South America--

In November, Brazilian light vehicle sales decreased by 5.4% year-on-year to 227,000 units. Seasonally adjusted annualized sales increased from 2.74 million units/year in October to 2.84 million units/year. However, considering the seasonal factor of the "Black Friday" sales promotions in the Brazilian market, which significantly boosted November sales, the seasonally adjusted annualized sales figures do not perfectly reflect market performance. The year-on-year figures show a decline due to exceptionally strong sales data in the same period of the previous year.

In Argentina, November sales decreased by 3.4% year-on-year to 32,900 units, marking the first year-on-year decline since July 2024. The seasonally adjusted annualized sales for the month fell from 594,000 units/year in October to 453,000 units/year. Soaring inflation and exchange rate volatility may have dampened consumer confidence, but it is too early to conclude that this is the beginning of a trend.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.