European car sales up 7.7pc

Dhaka,  Thu,  24 August 2017
Published : 16 Jun 2017, 13:04:40
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European car sales rise 7.7 per cent in May, nearing pre-crisis levels

Reuters
European car sales rose 7.7 per cent in May from the same month a year ago, industry data showed on Friday, returning to growth after a dip in April and with nearly all auto manufacturers recording sales increases.

New passenger car registrations in the European Union and European Free Trade Association increased to 1.43 million vehicles last month, according to the Brussels-based Association of European Carmakers (ACEA).

"In volume terms, this result comes close to May 2007 levels, just before the economic crisis hit the auto industry," the industry group said in a statement.

European car sales returned to annual growth in 2014 after a six-year slump during which registrations fell to their lowest in decades. Demand has been growing most months since, as an improvement in consumer confidence, retail incentives and new product launches lured customers back to the showrooms.

The May increase comes after registrations dropped the previous month, given fewer trading days around Easter and thanks to a double-digit sales decline in Britain.

May's growth was led by Japanese carmakers Suzuki and Toyota, up 21.4 per cent and 19.6 per cent respectively, and Germany's Daimler, up 14 per cent.

Sales from the Fiat Chrysler Automobiles stable rose 11.9 per cent, as a 47.8 per cent jump for sporty Alfa Romeo models helped offset a 7.3 per cent drop for its Jeep SUV brand.

France's Renault recorded a 10.4 per cent rise in registrations, outpacing domestic rival PSA Group, whose sales increased 4.8 per cent.

Sales at Volkswagen, Europe's biggest carmaker, rose 8.4 per cent, both for the group and its core namesake brand, as the German company continues to recover from its diesel emissions test-rigging scandal. Its market share remained roughly stable year-on-year at 24.3 per cent.

The only carmakers to report falling sales last month were Jaguar Land Rover, down 9.3 per cent, Japanese carmakers Honda and Mazda, falling 14.5 per cent and 2.3 per cent respectively, and Opel Group, down 1.7 per cent.

All five major national markets, except for the United Kingdom, recorded sales increases last month, led by Germany, where registrations increased 12.9 per cent, and followed by Spain, where sales were up 11.2 per cent. UK sales dropped 8.5 per cent.

In the first five months of the year, European registrations increased 5.1 per cent to 6.92 million vehicles, ACEA added.
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