Europe’s car registrations climbed for the second straight month in December, the European Automobile Manufacturers Association reported Tuesday.
Total passenger car registrations grew 3.0 percent year-over-year in December, but slower than previous month’s 5.8 percent growth.
Sales totaled 1,143,65 units in December, up from 1,110,236 in the corresponding month last year. Moreover, this marked the highest December total on record.
Among the five major EU markets, Italy posted the strongest growth by 13.1 percent, followed by Spain with 9.3 percent spike in sales. France and Germany also performed better sales in December than last year.
At the same time, demand for new cars in the United Kingdom dropped slightly by 1.1 percent.
Considering the whole year 2016, new passenger car registrations showed a consistent increase of 6.8 percent, totaling 14,641,356 units and marking the third consecutive year of growth in the sector. All major markets posted robust growth during the year.
This positive trend is a sign that despite political instability and economic uncertainty following key events in 2016, such as Brexit or the Italian referendum, consumer confidence has remained robust, the ACEA said.
The material has been provided by InstaForex Company – www.instaforex.com
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