Germany new-car sales up by 9% in March, improvements also seen in rest of Europe

Article by Christian A., on April 8, 2015

Sales in Germany of new cars climbed 9% in March 2015 due to an extra sales day and a strong optimism experienced by the largest economy in Europe. Sales in key markets in the region, including France and Italy, also went up last month. It appears that the gradual recovery in this region is continuing.

German motor transport authority (KBA) said last Thursday that in Germany, registrations increased to 323,039 vehicles.

Consumer morale is robust – evident in the 4.6% increase year-on-year of sales to private customers (which make up 35.8% of the market). Sales in the first quarter grew 6.4% to 757,630 units. KBA records also show that the 9% sales boost in March is the widest monthly jump in at least the last 15 months.

London-based Evercore ISI analyst Arndt Ellinghorst said that Germany has been recovering from “very low levels” and that the buyers are becoming more optimistic. He believes that this trend is felt across Europe.

Ellinghorst added that 90% of German car dealers are confident that in the next quarter, business will either improve or stay stable as the result of better used vehicle prices and stable discounts.

In March, the unemployment rate in Germany reached a record low of 6.4% while the closely monitored Ifo business climate index grew for a fifth consecutive month, doing better than consensus predictions.

According to Matthias Wissmann, president of the VDA industry association, the figures in March offer us a reason to be “optimistic” about the rest of the year. He cited reasons for vigilance, including “global crisis spots and the dramatic slump of the Russian economy” that could affect economic development in Germany and Europe."

Last month, sales grew 9.3% in France, 19% in Italy and 41% in Spain. France's CCFA raised its full-year forecast from "stable" to a 2% increase, not very far from the predictions for Europe in general.

Industry sources believe that one factor that has driven up the European recovery is the demand for replacement cars. Prior to 2014, the region experienced a sales slump for six years. During the last few years, businesses affected by the recession have put off plans to renew the car fleets.

If you liked the article, share on:

Topics: germany, sales, europe

Comments

Recommended

The Bentley Bentayga is set to participate in the famous Pikes Peak International Hill Climb that is slated to take place on June 24th in Colorado. The automaker’s motorsport department...
by - January 19, 2018
Infiniti will commence sales of the new 2019 Infiniti QX50 in the spring, with a starting price of $36,550. But before the big launch, Infiniti has introduced a new reservation...
by - January 18, 2018
BMW fans may be surprised with what the car manufacturer’s boss Robert Irlinger said in a recent interview with Autocar during a recent media meeting. And this is the fact...
by - January 18, 2018
Currently, there aren’t any Lexus convertibles out in the market, but it seems like it won’t be too long until we see one again. This is because Toyota’s premium brand...
by - January 18, 2018
Hyundai revealed to the press that it doesn’t plan on breaking any kind of top speed records with its newest N performance line. That is because the brand mainly focuses...
by - January 18, 2018
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