The data from LMC Automotive shows that market strength continued in December, which rose 5.2% and saw an estimated selling rate of circa 96 million units/year, just ahead of the previous record set in November.

Looking at individual markets, total light vehicle sales for the US in 2015 achieved an all- time record high of 17,445,000 units (+5.8%). The December US Light Vehicle selling rate stood at 17.3 million units/year, a little weaker than in recent months, though still 9% up YoY (year on year) thanks to stronger retail sales, which were helped by two additional working days.

Canada also achieved a record year for Light Vehicle sales (1.9 million) although December sales came in at approximately 129,000 units, down 1.8% YoY.

The West European Light Vehicle market finished 2015 up 9% for the full year, with further expansion forecast for 2016 through recovery in Italy, Spain and France. Nearly all markets were up YoY in December and the selling rate reached 16.2 million units/year for the latest month.

For China, in 2015 as a whole, total light vehicle sales reached a record-high of 24.9 million units, up 5.3%. While passenger vehicle sales continued to rise, light commercial vehicle sales declined for the fifth consecutive year in 2015.

According to preliminary data, China’s December selling rate was a robust 29.3 million units/year, virtually flat from an upwardly adjusted November. On a year-on-year basis, sales increased by 16%, the third consecutive month of double-digit rate growth, thanks to the temporary tax cut on smaller vehicles.

Looking ahead, LMCA said the recent volatility in China’s stock and currency markets, as well as the still depressed export sector, present risks to the economy and vehicle sales. Although only 6% of China’s households are said to own stocks, the sharp falls in stock prices could undermine consumer confidence.

In Japan, sales declined by 10% in 2015 as a whole, in the wake of the 2014 consumption tax hike and the 2015 tax hike for mini vehicles. However the selling rate picked up to 5.1 million units/year in December, helped by winter bonuses among large corporations.

For the South Korean market, total light vehicle sales in 2015 reached just shy of 1.8 million units, a record high. The selling rate spiked to 2.1 million units/year in December, as consumers rushed to dealerships before the temporary tax cut expired at the end of the year.

In the Brazilian market remained depressed, amidst the worst economic recession since the 1930s. Sales totalled just below 2.5 million units in 2015, down 26% from 2014. The December selling rate of 2.3 million units/year was unchanged from November.

In Argentina, sales increased by 8% year-on-year in December, but the market recorded a 6% contraction in 2015 as a whole. The new pro-reform president has already started to abolish the previous government’s protectionist policies, which should bring a short-term pain to the economy, while it has brightened the longer-term economic and sales outlooks.