EU5 generate 70% of car sales growth

October 17, 2016

France, Germany, Italy, Spain and the UK (EU5) have generated 70% of the sales growth in the EU car market so far this year. For the year to the end of Q3 2016, EU car sales grew by more than 800,000 year-on-year to 11.2 million units. The EU5 registered nearly 8.5 million of these sales over the same period, with annual growth of more than 580,000 units. Italy was responsible for 36% of the growth achieved by the EU5 as its car market continued to recover strongly, while demand in Germany accounted for 25%. While car sales in the UK have increased, they are lagging behind other European countries in the wake of Brexit and only accounted for 9% of EU5 growth. Elsewhere in Europe, only two countries reported annual declines for the year to the end of September. The Netherlands has seen year-on-year sales fall 5.2% following the removal of green vehicle incentives, while Switzerland’s sales are down 3.1%. This is attributed to last year’s market being particularly buoyant after the value of the Swiss franc soared against the euro.

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March 31, 2017

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