Car sales in Western Europe grew by 4.4% in April according to data released by LMC Automotive.
LMC said the result came despite a number of markets facing one fewer selling day than in April 2013. The selling rate for Western Europe is estimated last month at 12.2m units a year, the best result so far for 2014. LMC said that with ongoing improving results in recent months and the expectation of a modestly expanding eurozone economy for 2014, it now forecasts full-year sales for Western Europe to reach 12m units.
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However, Germany’s car market fell back by 3.6% last month, but LMC remains optimistic that the market will continue to recover. Although the latest result for Germany may appear disappointing, it said that selling rates continue to indicate solid expansion is in prospect this year for Europe’s largest car market. Germany remains on track to surpass 3m units of car sales this year.
LMC also noted that there were better results for other major markets. Spain’s sales expanded rapidly – up by 28.7% – and, while unemployment remains at cripplingly high levels, consumer confidence is picking up. Positive results came in from France and Italy too, adding to their gains earlier in the year.
The UK car market continued to make progress in April, up by a solid 8.2%. Against the trend seen recently, it was the fleet/business side that accounted for much of last month’s growth in the UK.
Jonathon Poskitt, senior analyst at LMC Automotive, emphasised that full recovery remains a few years away.
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By GlobalData“To take the Spanish market, growth is obviously very welcome and a selling rate of 880,000 units a year is a big step forward, but the Spanish market remains a very long way below where it was pre-financial crisis – around 1.6m units a year – and continues to be supported by the PIVE scheme,” he said.
“The results in France and Italy again headed in the right direction, though the economic outlook remains challenging in both countries and we do not expect a major turnaround in these markets’ fortunes in the near-term.”
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