Europe: sales advance 10% in March image

According to ACEA, the Brussels-based European Automobile Manufacturer’s Association, the new car sales have registered the seventh consecutive month of gains, signaling an end to the long lasting sales stint.

The March registrations were aided by new models coming to replace aged cars and the economic rebound in the European market. The demand saw sales surging for automakers like Renault, Ford and PSA Peugeot Citroen.

The ACEA figures represent the 28-country European Union, excluding Malta and also gather data from Switzerland, Norway and Iceland.

“The numbers for the first quarter and in particular for March are superb,” said Hans-Peter Wodniok, an analyst at Fairesearch GmbH in Kronberg, Germany. “There will be more moderate growth in the months and quarters to come.”

With the European Commission signaling the economic crisis has ended early in 2013, the economy for all countries that share the euro currency is forecasted to grow by 1.2% this year – with the worst hit, Spain, Greece and Portugal, slowly coming out of their sovereign-debt crisis.

Renault’s sales went up 29% in March, with its low-cost Dacia brand jumping an astonishing 51% and the Captur small crossover helping the Renault brand rise 23%.

Ford posted a 14% rise, while the battered PSA Peugeot Citroen managed an 11% jump. Volkswagen – the European market leader lagged the industry wide rise, with only an 8.4% growth.

Via Bloomberg