European car sales to rise 5% image

The European Car Association (ACEA) has changed its previous prediction of 2% growth for the car sales in Europe up to 5% in 2015 vehicles to be sold, amounting to 13 million cars due to be purchased in the midst of an economic recovery.

Since 2007 when the financial crisis began, it was not until last year that the first increase in car sales was registered, up to 13.6 million passenger cars being sold in Europe. ACEA stated that the auto sales growth has been maintained throughout the first half of 2015 and that the lobby group based in Brussels has revisited its previous prognostic from 2% to 5% for the entire year. It added that car demand however is still behind the peak reached in 2007 of around 16 million cars. The new forecast from ACEA excludes car sales in the markets that represent the European Free Trade Association (EFTA), meaning Norway, Iceland, Switzerland and Liechtenstein.

In 2014, the countries from EFTA contributed with 455,680 sales to the total European sales, reaching 13 million car registrations. In the first five months of this year, the car sales in the EFTA went up 4.1%, to 195,072 vehicles sold. The car sales situation is not so bright for countries outside of Europe. Auto registrations in India in the passenger vehicles department have declined for the first time in the past eight months this year, while China and Russia joined the unfortunate trend with utility cars and vans sales also going down for the two auto markets.

By Gabriela Florea