EU Auto Sales Have Growth for Second Consecutive Month

For the first time in 2013, EU auto sales have increased in two consecutive months according to the European Auto Manufacturers’ Association (ACEA). October sales increased 4.7% over the previous October with 1,004,935 cars sold. Combined with September 2013’s 5.4% growth, it if the first time since September 2011 that there has been two consecutive months of sustained growth.

Everything is not completely positive, though. Sales from January to October in Europe are down 3.1% to 10,006,807 units.

There is other good news for October’s sales, though. Italy was the only major market to see falling sales with a 5.6% drop. Germany grew by 2.3%, France by 2.6%, the UK by 4% and Spain by 34.4%.

However, it was the second lowest sales recorded since 2003 for October sales. The growth was partially pushed by October 2012 being the worst October recorded since 2003.

From January to October, sales have not faired as well. German sales are down 5.2%, France down 7.4% and Italy down 8%. The UK is up 10.2% through October, and Spain is up 1.1%.

This might be the first real sign that we have seen that the EU auto market is turning around. With 10 months recorded for the year, there have been four months of growth, and three of them have come in the past four months. Through much of the summer, Europe had its lowest sales since the ACEA has recorded data. It appears that sales will not get any worse, even if sales remain relatively low.