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Europe: June sales went up 4.3%

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Europe: June sales went up 4.3%

The worst seems to be finally over, as the regions’ crisis battered states are slowly recovering, shows data from the Association of European Carmakers (ACEA).

June’s new car sales advance registered the 10th month of rising sales, buoyed by improved economic situation in southern countries, new car introductions and continued retail incentives.

With the tenth consecutive month of rises for the European Union and European Free Trade Association trading block, June saw 1.23 million vehicles registered, up from 1.18 million units year-over-year. ACEA further concluded that the European six-years decline is finally over, after a period in which new car sales dipped to their lowest levels in 20 years. The association added that six-month deliveries climbed 6.2% to 6.85 million autos.

“As we move into the second half, consumers are likely to replace ageing vehicles, driven by a recovery in western Europe’s labor market and positive consumer sentiment due to an improving economic scenario,” said Ernst & Young senior automotive partner Peter Fuss. “We anticipate discounts and self-registrations to decline gradually as economic fundamentals improve and the replacement cycle returns to normal.”

Also, mass-market automakers are finally posting better results than their premium rivals, with Renault and its Dacia affordable brand, Skoda and Seat and GM’s Opel leading the advances. Dacia’s registrations jumped 32.2%, Renault went up 20.6%, Seat climbed 13.2%, Skoda rose 12.65 and Opel surged 11.7%.

Via Reuters

by Aurel Niculescu (my Google+) - Friday, July 18th, 2014 - filed under Industry, News, Sales Reports. Image credit: .
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