The West European car market in April continued to show a marked improvement in trend from the very disappointing levels seen in January and February, though it was not quite as strong as in March. We estimate the seasonally adjusted annualised selling rate at 14.8 mn, compared to the 14.9 mn in March. As the chart below shows, the five-month moving average of the SAAR - which is a reasonable indicator of the medium-term trend - has begun to point tentatively upwards once more, having declined continuously since the final quarter of 1999.
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