The West European car market was up 3.8% in October according to data released by LMC Automotive. Another positive result will be welcomed in the industry as a further sign of gradual market recovery taking hold in Europe. It also led LMC to raise its forecast for the West European car market in 2014.
LMC said that the Seasonally Adjusted Annualised Rate (SAAR) of sales in the region is now ‘picking up well’, with the September result standing at 11.9m units a year. LMC also maintained that “we are seeing a more solid upturn in market activity, which bodes well for 2014”. LMC raised its Western Europe market forecast for next year to 11.8m units.
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The German car market was up by 2.3% last month, as the KBA earlier reported, but the year-to-date market remains down by 5.2%. For the second consecutive month, the selling rate in Germany was above 3m units a year and LMC said it “signals demand is now moving in the right direction in the largest market in the region”.
LMC said that the selling rate also picked up well in France and Spain (the latter market assisted by scrappage support). In Italy the market continues to struggle, LMC noted.
The UK market once again expanded in October, with private and business/fleet sales both higher.
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