The number of new cars registered across Europe in July and August increased 5.6% and 2.1% respectively, yielding 12 consecutive months of growth. So far this year, 8,336,159 cars have been registered in Europe, marking an increase of 6.0%, according to the European Automobile Manufacturers’ Association (ACEA).
Growth has been seen across all major markets so far this year, although it has predominantly been led by Spain (16.4%) and the UK (10.1%). Other major markets, France, Germany and Italy, saw growth of 1.6%, 2.6% and 3.5% respectively. However, in August all three of these markets saw a small dips (France: -2.6%, Germany: -0.4%, Italy: -0.2%). France was the only major market to shrink in July, falling 4.3%.
The UK posted its 30th consecutive month of growth in August, and accounts for nearly a fifth of all European registrations so far in 2014, with 1,532,355 new cars registered. Growing consumer confidence and attractive finance deals have helped sustain growth in the UK new car market, which is expected to see 2.45 million vehicles registered by the end of the year, an increase of 8.1% on 2013.
