Global auto sales saw growth stagnate in August after some encouraging improvements since May (chart 1). Purchases declined by -1.3% m/m (sa), 13.7% y/y higher than the same month last year, bringing the year-to-date sales rate to -4.0% below 2021. The annualized selling rate reached 70.1 mn units in August, only slightly below the 72 mn vehicles trending over the first half of 2021 before the microchip shortage largely disrupted global production. So far, sales recovery in the second half of 2022 has been sluggish in some major markets, which is especially evident in North America, Western Europe as well as Japan ... (full story)