Arab Today, arab today european car sales shift up a gear
Last Updated : GMT 21:00:32
Arab Today, arab today
Arab Today, arab today

European car sales shift up a gear

Arab Today, arab today

Arab Today, arab today European car sales shift up a gear

Over the first two months of the year, new car registrations were up 10.1%
Paris - AFP

European cars sales raced ahead in February, increasing by 14.3 percent from the same month last year, with sales in Italy jumping by over a quarter, data released Wednesday by an auto manufacturer's association showed.

Only Greece and the Netherlands saw sales fall, while all other EU states saw double digit sales gains in February on an annual comparison except Austria, Britain and Slovenia.  

"In February 2016, the EU passenger car market posted a highly accelerated increase, marking the 30th consecutive month of growth," said the European Automobile Manufacturers Association (ACEA).

Over the first two months of the year, new car registrations were up 10.1 percent to 2.1 million vehicles, so far outpacing the 9.3 percent gain recorded overall in 2015.

Not all carmakers are benefitting equally from the rising car sales.

Volkswagen, which boasts the largest market share by far in Europe but is mired in a massive pollution cheating scandal, saw only a 4.5 percent sales gain in January and February.

France's Peugeot and Renault also underperformed, with sales gains of 8.5 percent and 5.4 percent respectively, as did German luxury carmaker BMW with an 8.7 percent gain.

FCA Group, the parent company of Fiat, saw its sales climb 18.7 percent as sales in Italy jumped and Mercedes-maker Daimler posted an 14.6 percent increase

 

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