According to market analyst LMC Automotive, the strong increase in sales reported in January in Germany is a good sign that the entire European region could see growth in 2014.
LMC thinks January’s strong performance, when 206,000 cars were sold (up 7%) would be supported throughout the year by a growing overall economy, while the seasonally adjusted annualized sales rate (SAAR) based on the first month would bring the market for 2014 back above the 3 million units mark, with a 6 % growth rate.
In 2013 the best performer was actually the UK market, and the British continued to buy cars, for January the sales going up by 8 % to reach 155,000 units – with demand supported by economic growth and rising consumer confidence.
France, which currently is Europe’s third market by capacity, has posted a more modest increase, of 1%, to 125,000 units, while the battered Italian car market finally showed some bright spots, with a 3 % improvement to 118,000 vehicles. Lastly, Spain, plagued by a huge unemployment rate continues to improve, but largely because of the government involvement, which continues to support an ongoing vehicle scrappage program.
Via Automotive News Europe