The FINANCIAL — Europe’s automobile market marked two full years of growth in August, with new car registrations rising 11.5%, according to data published by European auto makers on September 15.
New car registrations, a mirror of sales, reached 781,676 vehicles in August in the European Union and European Free Trade Association. That was up from 701,251 in August 2014, the Association of European Automobile Manufacturers, or ACEA, said, according to Nasdaq.
August marked the 24th consecutive month of growth in Europe.
ACEA’s most recent estimate conservatively forecasts a 5% increase in registrations this year in the region, a bright spot for the industry that has seen a downturn in demand in Russia and China.
“August is typically one of the weakest months for registrations, together with February, however the month saw continued growth in all major markets,” ACEA said.
In Germany, France and the U.K., registrations were up 6.2%, 10% and 9.6%, respectively, in August.
Poland, Portugal and Italy had double-digit growth.
In the first eight months of 2015, new car registrations were up 8.6% to 9.38 million vehicles, compared with 8.64 million in the same period a year earlier. Following a summer break, ACEA also released July data Tuesday, which showed a 9.5% increase in car registrations to 1.18 million vehicles.
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