Recovery hopes are fuelled as European car sales rev up
Saturday 17 August 2013
More encouraging signs of Europe’s economic recovery were seen yesterday as the Continent’s car manufacturers reported annual growth for only the second time this year.
A 4.8 per cent year-on-year rise in new car sales, to 1.02 million was reported by the German Association of the Automotive Industry (VDA). “The positive July result … is a good start for the stabilisation we expect in the second half,” the VDA’s president, Matthias Wissmann, said.
On Thursday, figures for April to June showed that the 17 eurozone members had emerged from an 18-month recession.
Europe’s car market is still on course to shrink for a fourth successive year, plumbing depths not seen in 20 years. Sales over the first seven months of 2013 fell by 5.2 per cent, but they have started to recover. Year on year comparisons with a weak end to 2012 could also become easier in the second half of this year.
“The emerging economic recovery in western Europe appears to be reflected in the development of car demand,” Mr Wissmann added, taking cause for confidence from double-digit gains in austerity-hit Spain, Portugal and Greece.
An extra working day in Germany helped to lift domestic sales slightly in July but underlying sales fell 2.3 per cent.
- 1 Kermit the Frog has a new girlfriend named Denise
- 2 The excuses your boss is most likely to believe when you call in sick
- 3 Moscow voted the world's unfriendliest city
- 4 I'm pansexual – here are the five biggest misconceptions about my sexuality
- 5 More than 11,000 Icelanders offer to house Syrian refugees to help European crisis
The one chart that shows how George Osborne is almost certainly going to be our next Prime Minister
The excuses your boss is most likely to believe when you call in sick
Three-year-old ultra-Orthodox Jewish children told 'the non-Jews' are 'evil' in worksheet produced by London school
Bono's group has made more money from Facebook investment than from all his music
Wikipedia rocked by 'rogue editors' blackmail scam targeting small businesses and celebrities
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
Tony Blair attacks Jeremy Corbyn's 'Alice In Wonderland' politics
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
Iain Duncan Smith 'should resign over disability benefit death figures', says Jeremy Corbyn
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
iJobs Money & Business
£14000 - £16000 per annum: Recruitment Genius: This company was established in...
£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...
£20000 - £25000 per annum + competitive: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum: Recruitment Genius: We are a vibrant and establishe...