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The recovery in Western Europe is gaining momentum

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The recovery in Western Europe is gaining momentum

According to industry figures gathered by LMC Automotive, the auto sales recovery in the Western European region has reached 5% last month, fueling expectations for a more sustainable market come-back.

After June’s year-on-year climb reached 3.9%, July figures show registrations advancing to 1,002,226 units, according to numbers provided by the consulting company. Last month’s rise led to the 11th straight monthly increase in new car deliveries.

Europe is “on course for a solid full-year expansion of about 5 %”, LMC forecasting chief Jonathon Poskitt said. “Germany, Spain and the UK continued to set the pace with the UK seeing market levels this year back to pre-financial crisis levels.”

Although the rather modest results are on the positive side, many industry executives and analysts warn the European market has a very long road ahead – as the sales base is now rising from a two-decade low.

The results also showed that one important market – France, was not caught in the recovery net, as last month’s sales fell 4.3% there. The Southern Europe, deeply affected by the latest economic crisis, continued to improve though – Spain was up 11%, Portugal rose 31% and Italy climbed 5%.

LMC’s seasonally adjusted annualized rate for the Western European sales now stands at 11.97 million autos, up 3.7% from 2013’s tally of 11.55 million units.

Via Reuters

by Aurel Niculescu (my Google+) - Thursday, August 7th, 2014 - filed under Industry, News, Sales Reports. Image credit: .
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