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March 3, 2017

Polish new car sales on the up

New car registrations in Poland set a 16-year record in February, according to a media report in the country.

New car registrations in Poland set a 16-year record in February, according to a media report in the country.

The 12.5% rise was the best tally for the month in at least 16 years, as a growing economy prompted more companies to purchase cars, Reuters reported, citing data from the private Samar research institute.

Registrations of 43,080 were up 2.7% from January, the institute said.

"Institutional clients are currently the driving force of registrations," Samar said in a statement cited by Reuters, adding individuals were predominantly buying used cars.

Registrations have now risen year on year for 23 consecutive months and have been growing at double-digit rates since November.

"Better growth prospects of companies increase their propensity to buy new cars," Samar analyst Dariusz Balcerzyk wrote.

Record low unemployment, a new child benefit and signs that the flow of European Union aid has increased after a sharp contraction helped Poland's US$450bn economy grow at its fastest quarterly pace in a decade at the end of 2016, the report added.

Top-selling car models in Poland this year so far were the Skoda Fabia and Octavia, followed by the Astra, some of which are at Opel's local plant in Gliwice. Toyota's Yaris was fourth, Reuters said. 

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