‘Disappointing’ July suggests Europe’s momentum to moderate

Western Europe's light vehicle market slipped about 2% year-on-year in July, marking the first monthly decline in nearly two years. Figures from LMC Automotive put the July total at 1,070,598 units with a "disappointing" seasonally adjusted annual rate (SAAR) of 13.4 million. It's not just July that has been sluggish - the average May-July SAAR is also weaker than levels seen earlier in the year, at 13.8 million units.