China is accelerating away from the rest of the world on car sales

Photo by Xiao Lu Chu/Getty Images

It’s been a good 12 months for new car sales, as shown in the charts below, supplied by Macquarie Research.

The first shows the year-on-year increase in sales worldwide.

And the second looks at sales growth by individual markets, both from a percentage and numeric change.

According to estimates offered by Macquarie, sales of cars and light commercial vehicles rose by 5.6% in the 12 months to June, marking the fastest year-on-year increase seen so far in 2016. Macquarie notes that “means nearly 400,000 more vehicles were sold than in June 2015”.

Despite roiling financial markets for much of that period, China recorded another jaw-dropping increase in sales, rising 16% from June 2015.

Elsewhere, sales in Mexico, South Korea and the European Union rose by 26%, 15% and and 6% respectively, although, in numeric terms, these still paled in comparison to the outright growth seen in China.

Along with a 2% increase in sales in the US, the growth in China and the European Union more than offset falling sales in Japan, Brazil and Russia.

According to estimates from Macquarie, around 43 million cars and light commercial vehicles were sold in the first half of 2016, up 3.4% from the same period in 2015.

China, yet again, was responsible for a majority of that growth with sales volumes increasing by 921,000 compared to the levels seen in H1 2015.

The chart below, supplied by Macquarie, looks at car sales in China, the US, European Union and Japan on a rolling annualised basis. Car sales in India, seen by many as the next motoring powerhouse globally, totaled around 2.5 million in the year to June.

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