Western European turnaround takes hold in June image

New vehicle registrations across the western part of Europe have surged to signal the rebound is in full swing, according to industry data provided by consultancy LMC Automotive.

Sales across the region jumped 14.3 percent to 1.31 million units, with great Britain, Germany, France and Spain putting double-digit percentage increases on the table – with almost every major market performing great thanks to the extra selling days compared to June last year. The only European markets to fall were Greece, falling 21.6 percent, followed by Ireland and Finland, dropping 14 percent and 2.5 percent respectively, according to LMC. “Despite growing concerns over Greece’s future in the euro zone and the implications for the currency union, the car market in western Europe grew strongly in June and in the first half of the year,” commented a LMC analyst. Across Europe, the seasonally adjusted annual sales prediction has been bumped to 13.22 million, surging from May’s forecast of 12.51 million.

United Kingdom deliveries jumped 12.9 percent to 257,817 units, for the country’s best half-year performance on record, according to the Society of Motor Manufacturers and Traders (SMMT). Throughout the first six months of the year, the growth level stood at seven percent, said the SMMT. “We anticipate a flatter second half of the year as the market finds its natural running rate,” added SMMT Chief Executive Mike Hawes. Additionally, last month in Germany, the biggest European auto market, sales also jumped 13 percent to 313,600 vehicles, said the VDA industry association a week ago. The first six months tally stood at 1.62 million cars, with a growth ratio of 5 percent.

Via Reuters