The US auto market returned to pre-crisis levels in July and the slump in European sales seemed to ease.
US car sales reached the best levels for seven years as American consumers are being encouraged by low interest rates and a boom in the shale oil and gas industry.
A closely watched indicator, the sales adjusted annualised rate (SAAR), gave a reading of 15.67 million units, allowing the sector to return to the volumes it knew before the 2007 global financial crisis that crippled the sector.
It's a stunning recovery from a deep and painful downturn which pushed General Motors and Chrysler into bankruptcy in the wake of the 2008 financial crisis and which forced the American auto industry to undergo massive restructuring.
Both GM and Ford last month reported better-than-expected results for the quarter while Chrysler inflated the earnings of its parent company Fiat.
Read more: SKNVibes | US, EU car industries pull out of ditch
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