According to figures compiled by LMC Automotive for the Western Europe auto industry, new car registrations last month modestly increased by 1% on the back of positive results in Britain and Spain that offset disappointing figures from France and Germany.
The data compiled by the consulting firm shows that new car sales in November edged 1% to 919,509 autos from the 910,236 figure recorded a year ago during the same period. This is also the slowest delivery climb in a year, further emphasizing the troubles of the feeble European auto recovery. On a seasonally adjusted basis, the November annualized selling rate dipped to 12.3 million cars, down 2.75 from the figure recorded in October. LMC remains confident that overall in 2014 demand has finally started picking up after a six-year slump that led to two-decades lows because of the 2008-2009 economic crisis. The forecaster predicts that the 2014 tally would be around 5% higher than in 2013, reaching total sales of just above 12.1 million units.
“The UK has been a driving force for the recovery we are now seeing in Western Europe car sales,” commented LMC analyst Jonathon Poskitt. The industry observers have also pointed out the very slow recovery would take a long time for the European region to regain its pre-recession sales level of around 14.5 million vehicles.