IHS: European carmarket may grow 2 percent in 2014 image

According to IHS’s Automotive research director Christoph Stuermer, the European carmarket might rose 1 or 2 percent next year.

“Yes, definitely, we are looking at a plus number; anywhere between one or two percent for next year. It’s not a huge rebound but is coming back on a country-by-country basis” Stuermer said on an interview with Bloomberg News.

The news comes just after the Eurostat said GDP grew 0.3 percent within the EU’s borders from the end of March through June.

“I hope there will be no premature, self-congratulatory statements suggesting ‘the crisis is over.’ “, Olli Rhen, Eurostat’s vice president wrote on his blog.

The eurozone has been in a debt crisis for more than three and a half years. Germany, the bloc’s economic powerhouse, grew 0.7%, its largest expansion in more than a year, thanks largely to domestic private and public consumption.

New car sales in the old continent are showing first signs of improvement as Germany, France, the U.K. and even Spain are reporting positive signals.

“The worst is over,” Roelant de Waard, head of sales and marketing for the Ford of Europe division, said in a phone interview with Bloomberg News.

However in the euro zone, more than 12 million people are unemployed, for a jobless rate of 12.1 per cent at last count, in July.