That’s the verdict of LMC Automotive in its Global Monthly Sales Report for June, which shows that global light vehicle sales hit a seasonally adjusted annualised rate of over 84 million units/year last month.

The report shows that US sales were, once again, strong and moved close to the 16 million units/year level in the month, with a 15.9 million units/year selling rate. Sales were up 9% compared with last June as improving consumer confidence, a rebounding housing market, and pent up demand fuelled vehicle sales. Robust truck sales continued in the month, outpacing the car sales.

The company adds that the market in China also hit a new high though there may have been some temporary boost relating to the end of quarter.

Advance data indicates that the June selling rate reached a record-high of 22.1 million units/year, up 5% from May. The selling rate averaged a strong 21.4 million units/year in the first half of this year despite a slowing economy and tightening credit conditions.

And the trend of more positive West European news continued in June as the market picked up to a selling rate of 12.9 million units/year, even though it was still down in year-on-year terms. The UK market was notably strong, though this came at the end of a quarter, implying some temporary incentive activity. The result reinforces our earlier suggestion that the bottom in the market may have been reached.

Russian light vehicle sales remained subdued in June, though have not fallen from last month: the selling rate has averaged 2.7 million units/year in the past three months. Polish sales remained stable, as did those in Turkey, despite recent political unrest. However, the Czech Republic market showed significant weakening with a selling rate of 140,000 units/year, which compares unfavourably with the full-year 2012 total of 175,000 units.

Meanwhile, the Japanese market slowed for the second month in a row, with the selling rate falling to 5.0 million units/year in June from the recent high of 5.6 million units/year in April. Volatile financial markets and waning expectations for Abenomics dampened sales.

In South Korea, sales tumbled in June along with stock prices on the news that the US Federal Reserve will soon start to scale down its monetary easing. However, the government’s fiscal stimulus measures and falling interest rates should bolster sales in the second half of this year.

In South America, the Brazilian market has continued to lose steam in the face of high inflation, rising interest rates, and ballooning household debt. Sales in June may also have been disrupted by wide- spread anti-government protests.

And in Argentina’s notoriously volatile market, the selling rate declined by over 20% in June after spiking to a record-high of one million units/year in May. Yet sales remain robust. Rampant inflation and the weakening peso are encouraging consumers to spend instead of saving.