West European car sales recovery continues in August, reports LMCA
The Seasonally Adjusted Annualised Rate of sales stood at 11.9 million units/year, also down a little on recent results and reflecting that the economic conditions across many parts of the region remain testing.
West European sales are on course for a solid improvement in volume for 2014 overall, though the recent poor economic data suggests the road to recovery will continue to be a bumpy one.
Car registrations in Germany were slightly lower, with the selling rate falling to 2.95 million units/year in August after a strong 3.25 million units/year in July. German registrations are expected to finish the full year 3‐4% higher than 2013.
The UK market grew well, with private sales again leading the charge. The UK will comfortably be the largest contributor to the region's growth, with the market effectively back to pre‐financial crisis levels.
In Spain, registrations continue to grow at double-digit percentage levels. The PIVE scheme remains a key part of that growth, and is set to be exhausted before the end of the year. Further PIVE iterations will be required to continue to build market momentum.
The Italian car market's selling rate climbed well in the first half of the year and despite a poor July result, last month saw the selling rate climb once again. There is discussion over market support by the government, and with the Italian economy back in recession; this will be a welcome relief for the car industry.
LMCA added that car sales in France remain lacklustre, a reflection of the stagnating wider French economy.
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