The figures also indicate that YTD the market was up 7.2%, with LMCA adding that consumer confidence remains relatively robust in most countries in the region, though UK confidence has taken a knock in the last couple of months following the EU referendum result.

In Spain, the car market posted YoY growth of circa 15% for August, with a selling rate of 1.1 mn units/year, not far off where the firm expects the market to finish for the full year — the reasonably solid August result comes despite the end of the PIVE scrappage incentive scheme. Meanwhile, in Italy, the car market grew for a 27th consecutive month and remains on course for strong double‐digit expansion for the full year.

The German car market looks set to expand around 5% to a little under 3.4 mn units this year, its strongest result since the scrappage‐incentive‐inflated 2009, though LMCA expects more modest growth in future given the market's current lofty levels.

After a few weaker months, car sales in France recovered in August (+6.7% YoY), with the market back on track for a 2 million‐unit result for 2016; with ongoing labour market improvements supporting the French economy in coming years, this bodes well for further growth in car demand.

The UK market posted YoY growth of 3.3% in August, and while that suggests there has been little impact on demand from the Brexit vote thus far, with car prices rising and economic growth set to slow, LMCA continues to forecast the UK car market will fall over the next few years.