Information: http://www.globalfleet.com/eu_car_market_to_grow_5_in_2016_acea_says_59876-en-508-189732.html

 

ACEA, the Association of European Automobile Manufacturers, has revised its growth prediction for the European car market in 2016 upwards by three points, to 5%. 

 

Earlier this year, ACEA predicted no more than 2% growth for 2016, but the association now has a more optimistic view. Retail car sales will go up 5%, ACEA predicts, and “LCV sales will also increase considerably”, according to ACEA president Dieter Zetsche, as quoted by Autoactu.com.

 

Indeed, by the end of April, year-to-date LCV registrations were up 11.8% in 30 European countries (the EU minus Malta, plus Iceland, Norway and Switzerland).

 

By the same token, the car market was up 8.3%, to 5.25 million registrations. May has been an excellent month for new car registrations in many EU countries, including France (+22.3%), Spain (+20.9%), Italy (+27.3%) and Germany (+12%).

 

If the European market does manage 5% growth for the entirety of 2016, it will exceed 14 million registrations, more than any year since 2009, but still less than the pre-crisis high of 15.5 million in 2007.