Data released by LMC Automotive shows that the global light vehicle market continued to grow, year-on-year, in July with sales up 2.5% to just under 7m units.
LMC said that the market so far this year is up by 3.7% to 50,743,745 units. On an annualised basis, last month’s market was put at just under 85m units.
While Western Europe has now turned a corner, and the US and China continue to expand,
LMC noted that not all markets are enjoying growth. Key markets in Eastern Europe and South America face significant headwinds, while sales in Japan are also now falling, LMC said.
Data released this week showed that economic growth in Western Europe has effectively stalled and will raise concerns that the recovery to car sales remains very fragile.