European automakers’ association ACEA has issued a forecast for EU new car sales growth of 5%.
ACEA said that over the first five months of 2015 the year-on-year growth was 6.8%.
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ACEA’s forecast would mean the market surpassing 13m cars mark this year, though that is still well below the 2007 peak of almost 16m cars.
“Despite this positive forecast, we cannot afford to become complacent,” stated ACEA Secretary General, Erik Jonnaert. “Europe still faces challenging times. Today EU car sales are behind those of China and of the United States, where sales levels have now recovered to pre-crisis levels.”
Analysts are warning that the current crisis in the EU over Greece’s bailout conditions and membership of the eurozone could potentially have an adverse impact on Europe’s economy, something that would also worsen the outlook for the car market.
Data from LMC Automotive shows that the West European car market was up 14.2% in June.
