Europe: auto industry entering broader turnaround pace image

Last months’ figures are showing the European zone is finally out of the danger that lurked for six whole years after the last Great Recession, driving sales down to a two-decade low.

According to industry association ACEA, new car registrations’ in April soared 6.9 percent across the continent, with industry figures showing the primary growth drivers were the major markets – such as Italy, France, Germany and Great Britain. Also, the tide has finally turned for mass-market brands such as Volkswagen as their sales outgrew the increases seen by luxury brands. Deliveries in the European Union (EU) and countries of the European Free Trade Association (EFTA) grew to 1,209,551 passenger cars, according to figures from the Association of European Carmakers (ACEA), released in a statement on Tuesday. Car sales across the European Union have been up for the past 20 months now, the association added, with all major markets seeing rises in deliveries. The best performer was Italy, the continent’s fourth biggest auto market, jumping 24.2 percent while Germany, the continent’s largest market, rising 6.3 percent. Great Britain continued its success story, climbing 5.1 percent, while the usual top performer – Spain – inching by 3.2 percent as the government subsidies ended.

Among the automakers the major players were the Renault Group – with sales in the EU and EFTA jumping 15.3 percent, thanks to a 15.6 percent jump at its namesake brand a rise of 14.7 percent at entry-level subsidiary Dacia. The continent’s top selling brand remained Volkswagen, with a 5.6 percent surge to 154,311 units, while its affordable Skoda brethren jumped 9.5 percent.

Via Reuters