European car registrations up 5.7% in 2014

Passenger car registrations in the European Union (excluding Malta) rose for the 16th consecutive month in December 2014, with the European Automobile Manufacturers Association (ACEA) reporting sales of 951,329 units, which pushed the monthly tally up 4.7 per cent year-on-year. Looking at the largest markets, the demand increase was mainly led by the significant growth recorded in Spain (+21.4%), followed by the UK (+8.7%), Germany (+6.7%), and Italy (+2.4%), while the French market (-6.7%) displayed less activity than in December 2013. Substantial growth also posted by the new EU member states (+9.6%) and by the EFTA countries (+9.8%) contribute to explain last month’s positive outcome.

From January to December, 12,550,771 new passenger cars were registered in the EU. With 5.7 per cent growth posted in 2014, new car registrations increased for the first time since 2007 after having been on the decline for six consecutive years. Looking at the largest markets, Spain recorded the largest increase over the year (+18.1%) followed by the UK (+9.3%), Italy (+4.2%) and Germany (+2.9%), while France remained stable (+0.3%).