Global Car Sales Rose 1% in June

Rising car sales last month in China, Japan and South America offset a 3% drop in the U.S., thereby boosting worldwide car sales 1% to 1.47 million units, says market researcher LMC Automotive. The annualized sales pace advanced to 94 million units from 93 million in May.

Global sales through the first half of 2017 shrank 2%, dragged down by a 7% decline in sales to fleets. Retail deliveries, which are considered a better measure of the market’s health, slipped less than 1%. LMC notes that carmakers have propped up demand by hiking incentives on retail sales 12% year on year.

Passenger vehicle sales in China jumped by an estimated 7% from May to June and advanced 2% year on year last month, LMC reports. It predicts volume in western Europe, which grew 4% in January-June, will expand at a slower pace in the second half.

Car and light commercial vehicle sales in Russia jumped 15% to 141,000 units in June. LMC expects full-year sales will grow 10%, marking the first annual increase since 2012.

Light-vehicle sales in South America’s two major markets, Argentina and Brazil, surged 20% to 262,300 units last month. Volume climbed 12% in the first half of 2017.