EU in the second-worst year in recent car sales history

Picture courtesy DW.de

In May, as in the months before, the EU new car market continued its partial resurrection. The 4.5 percent increase printed last month, however, was more a function of the abysmally low base during the Euro crisis in the prior year, and not Europeans stampeding back to their car dealers. The EU manufacturers’ association ACEA can’t help to note that “in absolute figures, the total of 1,093,448 units registered marked the second lowest result to date for a month of May since ACEA began the series in 2003 with the enlarged EU.” The way it looks, 2014 will end up in the annals as the second-worst year in recent car sales history. [Continue Reading]