Europe: the recovery is on its way or not? image

After several months key European markets finally saw sales increases coming back, but now April’s overall situation saw the five months rises growing at the slowest pace.

Doubts concerning the comeback of economic growth – as some countries still fight economic slowdowns – rising tensions in the East between Ukraine and Russia, which could hinder business connections there in the long term contributed to a drop in the region’s largest market – Germany.

According to the Brussels-based European Automobile Manufacturer’s Association, registrations in Europe went up an overall 4.2%, from 1.08 million in 2013 to 1.13 million vehicles, while for the year’s first four months, sales are up 7.1% to a tally of 4.48 million cars.

“We are not seeing a real recovery in the car market in Europe, just a modest rebound,” Gian Primo Quagliano, head of automotive-research company CSP in Bologna, Italy. “Europe needs economic measures to boost consumption and bring back customers into showrooms.”

For the countries that share the European common currency, the economic situation has its ups and downs, with Italy again posting a drop in the first quarter. April’s increases saw as the best performers the 16% increase at Renault SA– with the Dacia affordable brand rising 34% and Renault’s namesake brand 9%; 8.7% gains at Ford Motor and a 5.2 jump for PSA Peugeot Citroen.

Via Bloomberg