New-car registrations in Europe go up 5.5% in September 2013

Article by Anita Panait, on October 17, 2013

New-car registrations in Europe surged 5.5 percent in September 2013, helped by a surge in vehicle sales in the United Kingdom as well as an extra working day. The surge is an indication that European vehicle market’s decline might be bottoming out, according to industry watchers. Registrations in the EU and EFTA markets hiked to 1.19 million vehicles in September, industry association ACEA said in a statement.

According to ACEA, sales in the first nine months of 2013 dropped 4 percent to 9.34 million cars – with industry-wide sales in Europe still on pace to reach a two-decade low this year. Helping boost demand in September is the end of an 18-month recession in the euro-area, where the gross domestic products of 17 countries returned to growth in the second quarter.

In fact, investor confidence in Germany, regarded as Europe's largest economy and vehicle market, surged to a three-year high this month. Likewise, consumer confidence in the UK was at a six-year high in September.

Industry observers were waiting for September sales results to determine whether the decline in August was a quick glitch or an indication of a further slide.

Peter Fuss, Senior Advisory Partner at Ernst & Young's Global Automotive Center, told Automotive News, “the worst is behind us,” noting the decline in sales has considerably slowed and there are signs of recovery in demand.

He also noted that sales continue to be artificially boosted by huge discounts and self-registrations by dealers. He remarked that it will take at least two years before the vehicle market will be strong enough to grow on its own without the aid of incentives.

Topics: europe, sales

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

In Japan, Toyota stays in the limelight by always cooking up something new for its famous 86 sports car. A colour orange Toyota 86 performance edition is one that’s hard...
by - December 4, 2016
Back in 2009, Nissan first introduced the Nissan Leaf, the company’s first all-electric vehicle. LEAF stands for Leading Environmentally-friendly Affordable Family car and this particular EV has been considered as...
by - December 3, 2016
In the minivan segment, the 2017 Chrysler Pacifica is already impressive in terms of fuel economy figures – as rated by the United States Environmental Protection Agency. In fact, the...
by - December 2, 2016
Having a blacked-out Bentley Mulsanne Speed is already menacing by itself but by naming it as the Bamford X, it became all the more imposing. This model was made by...
by - December 2, 2016
We have good news for those who are waiting for the latest version of the Mazda CX-5 compact crossover. It was just unveiled in November at the 2016 Los Angeles...
by - December 2, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries