Western European car market up 14.4% in May
In total, 1,221,610 units were registered according to the latest IHS Automotive forecast.
The result was bolstered by a positive calendar effect of two to three days in most markets However, even when the calendar effect was stripped out, it was still an encouraging result.
The German passenger car market recorded a further round of strong growth during May with the market increasing by 11.9% y/y during the month to 286,931 units. Private demand underpinned this gain, with registrations by this type of customer up by 12.9% y/y to take a share of 37.4%. Overall, the year to date (YTD) figures now stand at 1,394,276 units, up 6.8% y/y.
There was a marked calendar effect of three days in France. Despite registrations having grown by 22.3% y/y to 175,834 units during May, once the additional working days are taken into account, this growth rate falls to 4.0% y/y.
The UK passenger car market continued on a similar stable growth track in May as in April, after market pyrotechnics seen in March as a result of the biannual plate change. According to the latest data released by local industry body, the Society of Motor Manufacturers and Traders (SMMT), the market rose by 2.5% y/y in May to 203,585 units. For the YTD, sales rose 4.1% y/y to 1,164,870 units. The fleet market was the main driver in May with an 8.8% y/y increase in demand during the month, while interestingly there was a corresponding reduction in private sales with May's tally of 89,094 units comparing to the figure of 91,811 units that the market posted at the same point last year.
The Italian passenger car market has recorded an increase in registrations of 27.3% y/y during May. The trade association revealed that the number registered has reached 187,631 units versus 147,405 units during the same month a year ago. This has further positively contributed to its YTD performance, which for the first five months of 2016 is up 20.5% y/y to 875,778 units.
The Spanish market was similarly strong during May. The trade association reported that the market increased by 20.9% y/y to 113,671 units. This has further contributed to improvements in the YTD of 12.5% y/y; YTD sales now stand at 499,444 units.
IHS added that current macro conditions around Western Europe continue to support growth in the market and the firm currently forecasts 13.8 million units for the year, a rise of 4.4% on last year's total of 13.2 million units.
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