EUROPEAN CAR SALES ON THE RISE
January 28, 2015 at 4:00 PM
European car sales last year rose for the first time since before the financial crisis, according to data published by the European Automobile Manufacturers' Association. The figures end a run of annual declines that took a heavy toll on most manufacturers.
Passenger vehicle registrations in the EU rose 4.7% to 951,329 in December alone, driven by strong demand in Western Europe. Overall, new car registrations rose to 12.6 million vehicles last year in the 28-nation bloc, up 5.7% from 2014.
In the lead up to Christmas, registrations in Spain rose 21%, mainly due to government subsidies and a rebound in private consumption, while the UK shot 8.7% higher. In Germany, Europe's biggest car market, registrations jumped 6.7%.
Spain (up by over 18%) and the UK (9.3%) were the best performing of the markets across 2014, supported by more muted growth in Italy, at 4.2%, and Germany (2.9%). Elsewhere,Portugal notched up growth in passenger vehicle registrations of more than a third across 2014. Ireland ended the year up almost 30%, while Greece rose 21%.
In a further boost to the industry moving forward, car manufacturers have already started forecasting moderate growth in European sales this year.
To find out more about Multisol’s full product range for automotive and industrial applications worldwide, click here.