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Analysis
The global auto industry rounded the bend into second-half 2011, outpacing July year-ago sales by just 1.2%.
But the 6.15 million vehicle deliveries worldwide marked the lowest monthly total since February and fell 3.3% below the previous 12-month average of 6.36 million.
July’s slight improvement over June’s 1.1% jump marked the first time in eight months the year-over-year growth rate improved.
The now-familiar refrain of low supply was joined by a chorus of concerns about the state of the global economy. Deliveries declined as worries about the credit status of major countries including the U.S. and France grew.
Deliveries across Asia/Pacific slipped 1% to 2.49 million vehicles in July, leaving the region with a 40.1% share of global sales, up slightly from June.
Japan’s vehicle market continued to struggle in the aftermath of the natural disasters that rocked the country in March. With July deliveries down 23.3%, the nation’s year-to-date total is 27.1% below year-ago.
Nonetheless, Japan’s 373,000 July vehicle sales made the island nation the world’s third-largest market for cars and trucks.
A mini-boom took hold in China, the world’s largest vehicle market, as deliveries totaled 1.28 million for a 4.9% increase from year-ago, a decided improvement over June’s 1.8% uptick.