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European car sales return to growth

  • European new-car sales increased at the fastest rate in over two years in September, climbing 5.5% on year to 1.19M vehicles after dropping 4.9% in August.
  • In January-September, sales fell 3.9% to 9.34M cars.
  • Last month's figures were boosted by the end of the eurozone recession, price cutting, and a Spanish government-incentive scheme that helped demand jump 29%.
  • "Car sales in the EU are showing signs of improvement, indicating that the worst is behind us," says Ernst & Young's Peter Fuss. "The sales, however, continue to be artificially boosted by huge discounts and self-registrations by dealers.
  • Registrations in the U.K. rose 12% and 3.4% in France, but dropped 1.2% in Germany and 2.9% in Italy.
  • GM's (GM) sales +5.4%, Ford (F) +5%. (PR)
  • Related tickers: PEUGF.PK, HMC, FIATY.PK, TM, VLKAF.PK, BAMXF.PK, DDAIF.PK, RNSDF.PK.
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Comments (1)
  • Tdot
    , contributor
    Comments (3894) | Send Message
     
    "The sales, however, continue to be artificially boosted by huge discounts and self-registrations by dealers."

     

    uggh.
    16 Oct 2013, 08:23 AM Reply Like
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