Europe's Automobile Manufacturers' Association (ACEA), has revised its forecast for 2016 car registrations up from its initial January forecast of 2% growth.
"Looking ahead, we now forecast growth for EU passenger car sales in the region of 5% this year," said ACEA president, Dieter Zetsche.
Go deeper with GlobalData
"Commercial vehicle sales should also grow substantially. In terms of units, this would mean over 14m cars sold.
"It's important to note that we are still below pre-crisis level of 15.5m units. We need political partners who continue to stand by the principles of free trade and are determined to safeguard the positive momentum of our industry. Everyone at ACEA is determined to accelerate it."
ACEA represents the 15 Europe-based car, van, truck and bus manufacturers: BMW Group, DAF Trucks, Daimler, Fiat Chrysler Automobiles, Ford of Europe, Hyundai Motor Europe, Iveco, Jaguar Land Rover, Opel Group, PSA Group, Renault Group, Toyota Motor Europe, Volkswagen Group, Volvo Cars and Volvo Group.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
