European car sales show signs of resurgence

New car sales in both France and Spain have risen for the fifth month in a row to January 2014, showing signs the European car market is on the up.

The news is positive for Europe’s automotive sector, which has been in decline for six years.

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Alongside the relative success in France and Spain – two of the biggest hit regions for new car sales following the global economic downturn – Italy also recorded positive results for new vehicle registrations.

For the second consecutive month new car sales in Italy were up. This is good news for the country, as it was one of the worst hit areas in a post-recession automotive marketplace, consistently among the top three poorest performers  – alongside France and Spain.

The fifth-largest market for new cars in Europe, the Spanish automotive sector posted a 7.6% increase in January this year compared to the same period in 2013 – this equates to 53,436 sold, according to Spain’s national industry body Anfac.

Although this is a good sign, it was helped by government subsidies in an effort to get the industry back on track.

The Italian market recorded a small but important 3.2% increase in sales this January – that works out at 117,802 new vehicles registered last month.

France – Europe’s third-largest economy for new vehicle purchases – just managed to improve on the nation’s 2013 results.

According to the country’s industry association CCFA, the market rose by 0.5% (to 125,477 vehicles sold in January 2014) compared to the total recorded a year earlier.

Despite dismal performance across the continent, the UK has remained a bastion of growth when it comes to flogging new motors.

In August last year, industry body the Society of Motor Manufacturers and Traders (SMMT) revised the forecast for new car registrations in 2013 UPWARDS.

The year eventually finished extremely successfully, with 2.26 million cars registered in the UK during 2013.

This marked the strongest performance since 2007, only 6% shy of the 2.4 million vehicles sold that year, pre-recession.

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By motoringresearch.com