Friday, July 18, 2014

European Car sales rise up 4%

  11:07 AM            No comments

Europe Car Sale..



European car sales rose 4 percent in June, as economic recovery in Europe, the introduction of new products and retail incentives, the demand for mass-market brands. 

Registrations in the EU and EFTA markets rose to 1.23 million vehicles from 1.18 million in the previous year, ACEA, said today in a statement. The marked 10 months in a row of growth, fit an extension from June 2009 to March 2010. 

In the first six months, sales in the region rose by 6 percent to 6.85 million vehicles, ACEA said. 

The June increase is from a low base and was unevenly distributed across the region. Analysts also said that heavy discounting and other incentives, the true level of demand distortion. Retail incentives on top of Europe five markets rose by 10 percent year on year to a record € 2,748 ($ 3,700) per vehicle, according to data from a large independent market research firm. 

Peter Fuss, an Ernst & Young Advisory Senior Partner, said: "Heavy discounting and other incentives for the buyers remain a major cause for concern, as they continue to distort the true demand." 

European activities Head Hyundai, Allan Rushforth said: "After a six-year downturn in the European automotive market an inconsistent and heavily incentivized recovery is better than no recovery at all." The dilemma for automakers is now, as they pursue future sales under price pressure, he said.

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