Despite positive overall results for new car registrations in the first half of 2024, there are worrying signs of slowing growth, according to JATO Dynamics first-half analysis of new passenger car registrations in 28 European countries
Aging stock has been cited as the “main driver” of £1.6 billion losses incurred by Europe’s used car retail sector between the start of the COVID-19 coronavrius lockdown and mid-April.
Share prices of the UK’s publicly listed dealer groups dropped sharply this morning following news that the UK’s electorate voted to leave the European Union.
The UK saw Europe’s third lowest growth of 2% against a total market up 8.9% year-on-year according to JATO Dynamics’ report on the region's new car registrations for April.
European new car registrations volumes increased by 2.4% from October 2014 to 2015 to 1.14 million cars.
The European new car market increased by 9.7% in September year-on-year to 1.27 million units, led by growth in the UK, Spain and Italy.
New car registrations in the EU increased 14.6% in June compared to 2014, marking the largest monthly increase since December 2009.
New car sales in Europe were 6.4% higher in April 2015 than in the same month of 2014.
The automotive retail sector is sufficiently dynamic and innovative to adapt to a predicted weakening in market conditions that have led to PCP growth in the market.
New car sales in Europe were 8.9% higher in the first three months of 2015 than in the same period last year and have grown for seven consecutive months.
