EU auto registrations surge 6.5% in October

GMT 11:56 2014 Tuesday ,18 November

Arab Today, arab today EU auto registrations surge 6.5% in October

New cars are parked at the customs house
Paris - AFP

The European Union car market enjoyed a 6.5 percent surge in registrations in October over a year ago, boosted by booms in Britain as well as in struggling Spain and Italy, industry figures showed Tuesday.
Overall, 1.07 million vehicles were registered in the European Union in October compared with one million units in October 2013.
Figures for France on the key indicator of economic health were the notable exception, showing a 3.8 percent drop in registrations over October 2013 -- though Renault saw a 10.5 percent increase.
The overall market has seen 14 consecutive months of growth, the European Automobile Manufacturers Association (ACEA) said.
Over the first 10 months of the year the increase was 6.1 percent.
But the industry has yet to recover to levels seen before the crisis of 2008-13: more than 1.2 million new vehicles went into circulation in October 2007.
Spain, whose car market collapsed during the crisis and where cash-for-clunkers subsidies have encouraged purchases, registrations shot up 26.1 percent to 76,000 units last month.
Italy, whose car market was also depressed, saw a surge of 9.2 percent on the same comparison, with 121,000 new cars hitting the road.
Britain, the EU's second largest car market, also saw healthy sales, shooting up 14.2 percent with 179,700 new units.
Top auto market Germany had 3.7 percent more registrations with 279,000 units sold.


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