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.

If you liked the article, share on:

Topics: europe, sales

Comments

Recommended

November 17 is considered a very special day for Tesla, as this is the day that they revealed the highly anticipated Tesla Semi. But Elon Musk did not think the...
by - November 17, 2017
More details have emerged about the new sixth generation of the BMW M3 just as the German premium practically announced the end of the current-gen 3 Series with the unveiling...
by - November 17, 2017
All is set for Volkswagen’s plans to enter the electric vehicle game, as prompted by the so-called Dieselgate scandal. In fact, the German carmaker has already made a commitment to...
by - November 17, 2017
As BMW has already revealed, the next generation of the BMW M5 (F90) is a four-wheel drive high-performance sedan with overwhelming power output and torque at its disposal. However, it...
by - November 17, 2017
McLaren unveiled a one-off Gold - on - Black 720S at the 2017 Dubai Motor Show which will be on display throughout the entire stretch of this week’s event. The...
by - November 16, 2017
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