European new car sales hit 10-year high, UK declining quickly
In 2017, new passenger car registrations experienced an increase of +3.4 per cent on the year before. This marked four consecutive years of growth and the best result since 2007 when 16 million units were registered. Registrations rose in the majority of the largest EU markets: Italy (+7.9 per cent) and Spain (+7.7 per cent) were followed by France (+4.7 per cent) and Germany (+2.7 per cent). In the UK the market declined by -5.7 per cent.
“It is positive to see that demand for new cars in Europe grew by +3.4 per cent in 2017 and reached a 10-year high of 15.6 million units sold”, said Sue Robinson, director of the National Franchised Dealers Association (NFDA), which represents franchised car and commercial vehicle retailers in the UK, commenting on the latest figures by the European Automobile Manufacturers’ Association (ACEA).
In December 2017, new passenger car registrations in the EU saw a decline of -4.9 per cent to 1,088,498 units. This was mainly due to December having one less working day less in 2017 than the previous year. In December all the largest European markets decreased apart from Spain (+6.2 per cent).
Robinson continued, “These results confirm the strength of the retail automotive industry and the crucial role it plays in the economy.
“The EU new car market is expected to stabilise in 2018, but with rising employment levels and an increasing appetite for new cars across not only the large but also the small and medium markets, new car registrations in Europe are likely to remain at high levels.”