Global Commercial Vehicle Market Snapshot

U.S. Inventory Drops, Puerto Rico Sales Slump, Pickup Demand Strong

As of early July, U.S. new vehicle inventory dropped from 2.79 million in May to 2.65 million, with days-to-turn falling to 65, showing tighter supply amidst expiring EV tax credits.

In Puerto Rico, new car sales in June plummeted by 20.83% year-over-year, reflecting economic softness and geopolitical headwinds. Despite regional declines, U.S. pickup trucks saw double-digit growth in H1 2025, driven by consumer appetite for utility and power.

Vietnam Surges, China Dominates Global Export Charts

Vietnam posted a 20% year-over-year growth in June, with H1 sales topping 163,000 units — largely driven by passenger cars.

China exported over 3.08 million vehicles in H1 2024 (+10.4% YoY). Chery led with 548,000 units, while BYD surged 130% to 472,000 — leveraging global capacity expansion and electrification.

EV Battery Production in China Hits Historic Highs

China produced 129.2 GWh of power batteries in June 2025 (+51.4% YoY), with LFP batteries dominating and export volumes soaring by 54.7%, affirming global demand for Chinese energy solutions.

USMCA Tightens Sourcing, Polestar Fights LCT in Australia

USMCA regulations boost U.S. parts content but add pressure on automakers via higher costs and slowed production. Polestar is advocating for the removal of Australia's Luxury Car Tax, citing outdated protectionist motives and barriers to EV affordability.

U.S. Brands Struggle in Japan, Smart Expands in Georgia

U.S. auto brands sold only 9,517 units in Japan during H1, up 17.2% YoY, but continue to underperform due to misaligned design with local preferences. In Georgia, “Smart” supermarket opened its fifth store in Batumi, co-located with a Wissol fuel station, highlighting the integration of travel services and retail.

In an increasingly complex market, the key to commercial vehicle success lies in structural flexibility, policy responsiveness, and localized insight