Europe car sales up for sixth straight month as crisis-hit states recover

European car sales rose 7.6 per cent in February, as a gradual economic recovery in Portugal, Spain and Italy boosted demand for mass market brands, industry data showed on Tuesday.

New passenger car registrations in the European Union and European Free Trade Association trading block rose for the sixth consecutive month to 894,730 vehicles in February from 831,371 in the same month last year, according to data from the Association of European Carmakers (ACEA).

Europe’s car industry endured a six-year slump, with auto sales falling to their lowest level in two decades as austerity-hit consumers cut back on expensive purchases, but the market has recently returned to growth.

While registrations in top car market Germany underperformed the regional trend with a 4.3 per cent increase and fell by 1.4 per cent in Europe’s second-biggest car market France, sales grew in double digits in some states most hit by the crisis.

Source: Business times


    • Topics