Global Car Sales Rose 3% in August

Worldwide sales of light vehicles last month grew to 7.25 million units in August from 7.06 million in August 2016, LMC Automotive reports. The volume represents an annual sales rate of 95 million units, about the same as in July.

The market research firm says 3% gains in China (to 2.16 million units) and western Europe (to 907,300 units) offset a 2% decline (to 1.48 million vehicles) in the U.S.

Deliveries in Asia outside China rose in Japan (+9% to 355,300 units) and South Korea (+12% to 136,300 units). Demand also surged in South America, led by an 18% jump to 291,100 units in Argentina/Brazil. Demand in Mexico shrank for the third consecutive month, dropping 7% to 124,000 vehicles because of a tightened credit market.