Further Growth of EU Car Sales

In January the sales of new cars in the EU grew 5.5%, a new record with 5 months of consecutive increase, which is however still below the level recorded before the European debt crisis. European Automobile Manufacturer’s Association (ACEA) pointed that the new car registration in January was less than 1 million units, the lowest record of the month in the European automobile market since 2003.

In the beginning of 2014, the automobile markets in most European countries started to recover. Sales of new cars in five major automobile markets all demonstrated growth: 154,562 units for UK and 53,436 units for Spain, which both grew 7.6%. In other major markets, Germany grew 7.2% to 205,996 units and Italy grew 3.2% to 117,802 units.