EU car sales up 9.3% in 2015

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  2016-01-15

Information From:http://www.globalfleet.com/eu_car_sales_up_9_3_in_2015_59331-en-513-189230.html
 
New car registrations in the EU were up 9.3%, from 12,551,204 units in 2014 to 13,713,525 units in 2015. December sales proved a big boost, rising 16.6% to 1,109,927 units. 
 
Data released by the European Automobile Manufacturers’ Association (ACEA) shows growth across the Big Five markets. Year-on-year growth was in the single digits in the UK (6.3%), France and Germany, and in the double digits in Italy (15.8%) and Spain (20.9%). The scrappage scheme aiding Spanish recovery will be extended through early 2016. Smaller markets also reported strong gains, including the Netherlands, Sweden, Ireland, Portugal, and various Central European markets. 
 
The positive effects of market growth were felt by nearly all brands. VW remains the largest player (+6.1%, or 3,377,799 units), although the Group had a weak December (+4.7%). Second-placed PSA Peugeot-Citroën rose 6.2%, but with uneven results for its brands Peugeot (strong), Citroën (moderate) and DS (weak).  PSA rival Renault’s growth was more in line with the overall market, at 9.2%. Ford’s registrations were up 8.6% to almost 1 million, while GM’s Opel/Vauxhall Group rose by a mere 2.4%. Fiat Chrysler had a buoyant year, thanks in part to a resurgence of the Italian market. Premium manufacturers BMW, Daimler, Volvo and JLR all posted double-digit increases.
 
IHS Automotive analysts point to several reasons for the better than expected performance of EU markets: economic improvement, better macro conditions, and a natural catch-up process after the longest sales downturn Europe has ever suffered; as well as a fair share of artificial support from government stimulus packages, OEM incentives and the use of tactical sales. And December’s very positive figures demonstrate that there is still a lot of pent-up demand left.
 
For 2016, IHS predicts a slower rate of improvement – about 2.5% y/y - due in part to the fragile nature of the EU’s economic recovery. But with room for growth, even a slight improvement in confidence could have a multiplying effect, with more substantial growth as a result.