“It is extremely positive to see that European new passenger car registrations rose 16.0% in May, reaching 1,288,220 units”, said Sue Robinson, Director of the National Franchised Dealers Association (NFDA), which represents franchised car and commercial vehicle retailers across the UK, commenting on figures published by ACEA (European Automobile Manufacturers' Association).
In May 2016, European passenger car registrations showed a double digit growth marking 33 consecutive months of growth. Year-to-date, the market grew by 9.9%, totalling 6.4 million units. All largest European markets performed well: Italy (+27.3%), France (+22.3%) and Spain (+20.9%) experienced the largest increase, in Germany (+11.9%) and the UK (+2.5%) car registrations grew at a more modest rate.
Robinson continued, “These results are in line with recent predictions from the ACEA, which revised its forecast for 2016 car registrations from the initial 2% growth to 5%.
“Positive factors such as decline in oil prices and very low inflation have been supporting European economic recovery. Real GDP in the EU is now expected to grow moderately by 1.8% in 2016 after rising 2.0% in 2015.
“European car registrations currently represent almost a quarter of the global market and we are pleased to see that the automotive sector across Europe has made again its significant contribution to the overall economy.”
NOTES TO EDITORS:
The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.