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European new car sales hit 10-year high, UK declining quickly

New passenger car registrations in Europe increased by 3.4 percent in 2017. This marked four consecutive years of growth and the best result since 2007 when 16 million units were registered. Registrations rose in the majority of the largest EU markets: Italy (7.9%) and Spain (7.7%) were followed by France (4.7%) and Germany (2.7%). In the UK the market declined by 5.7%.

“The EU new car market is expected to stabilize in 2018, but with rising employment levels and an increasing appetite for new cars across not only the large but also the small and medium markets, new car registrations in Europe are likely to remain at high levels,” said Sue Robinson, director of the National Franchised Dealers Association (NFDA).

Referenced article found here.

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