EU New Car Sale Shows Continuously Improving Automotive Industry

Despite the weak economy in Europe and the outbreak of Ukrainian crisis, the automotive industry of EU has been in continuous recovery over this past 8 months and the sale of new cars climbed 6% to 8.3 million units of vehicles. European Automobile Manufacturer’s Association (ACEA) indicated that the growth in August was in decline and the sale of new cars increased by 2.1% to 669,395 units of vehicles. In contrast, the sale of new cars in EU last July grew sharply and registrations of new cars in the euro zone increased by 5.6% to 1.04 million units of vehicles.

August is basically a low season for the sale of new cars. For example, the sale in France dropped by 2.6%, Germany down 0.4%, and Italy in 0.2% decline. After 6 months of gradual decline in new car sale, the current new car sale of EU has shown its recovery for consecutive 12 months, however, the pace of growth for each month differed. In UK, the new car sale during Jan. through Aug. hiked 10% to 1.5 million units of vehicles, Germany up 2.6% to 1.97 million units of vehicles, and France increased by 1.6% to nearly 1.2 million units of vehicles.