Report: European Car Sales Rise in April

In the month of April, the European automotive market saw a 1.7% increase in new passenger car registrations compared to the year-ago period, the European Automobile Manufacturers' Association (EAMA) recently announced.

There were a total of 1.038 million new car registrations in April, the first year-over-year improvement since September 2011, according to the EAMA. April 2012 had notched a historic low and in absolute figures the April  2013 number is the third-lowest level of new registrations for the month.

For the four months ending in April, European auto sales remained down 7.1% from the same period a year ago. Additionally, the EAMA attributes much of the 1.7% improvement in April to the region's two more working days, on average, compared to April 2012. The additional working days call into question the sustainability of April's improvement.

Across the region, the U.K., Spain, and Germany led the European automotive sales expansion, with 14.8%, 10.8%, and 3.8% increases in April, respectively. Italy had the worst car sales decline, falling 10.8% in the period, followed by a 5.3% drop in France.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2438660, ~/Articles/ArticleHandler.aspx, 4/24/2014 11:21:48 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement