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The year got off to a fine start. After two months of falling sales in the past five months, including an ominous looking end to last year when December sales fell 5.3 per cent, for Europe’s car industry 2018 began on a decidedly upbeat note. Provisional figures from AID reveal that West Europe’s January new car market grew by 5.4 per cent compared to the previous year
With the year barely seven weeks old, consensus has emerged among some carmakers and outside market observers alike that it will be a good one, if not an exceptional one.
So good, in fact, that some carmakers appear to have binned earlier negative car sales projections for the current year.
Instead, and encouraged by revised upward projections for this year’s synchronised regional economic growth and better than expected consumer confidence levels in much of mainland Europe, some autoindustry members are now expecting yet another year of satisfactory European car sales growth.
A case in point, Renault-Nissan says that this year’s overall European car sales could grow by some 2 per cent.
Releasing its latest forecast February 1, Mercedes, last year’s leading prestige car maker, said it expected the European passenger car market would show “slight growth” this year, up slightly from the 3.3 per cent sales gain seen in all of Europe last year.
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