Western European car market up 8% in August
The Western European car market grew 8 per cent in August despite being down 1 per cent year-to-date. This marks a significant improvement on July which was down 1.5 per cent. According to research produced by Deutsche Bank, August is usually the lowest month of the year with around 750,000 units sold.
Germany led the charge, registering, growth of 19 per cent followed by the UK, (+10%), and Spain (+8%). Italian car sales were up 2 per cent, while in France business was flat (0%) and registrations are described as “more or less stable.”
According to the research, for the first 8 months of 2011, the passenger car market would therefore total 8.7 million units (-1%). Financial analysts described this as “showing a strong resilience” and added that this performance would underline zero growth for the last 4 months to achieve Deutsche Bank’s 12.9 million unit estimate for 2011.
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