ACEA: Incentives lifted European car sales in June

On Tuesday, German luxury carmaker BMW's head of sales and marketing suggested the worst was over for the high-end car sector and the company was ready to increase production in the next six months. Credit Suisse analyst Stuart Pearson said the "reason why the figures start to look better from here on in, is because it was this time last year that car sales really started to fall off a cliff. You'll start to see some much healthier looking European sales figures but you shouldn't really be deceived. ACEA noted the "steep downward trend" of sales sparked by the credit crunch and worsening economic climate started in May 2008, and that already in June last year sales were down 7.9 percent compared with June 2007.Sales in Germany jumped 40.5 percent, Italian sales rose 12.4 per cent and French sales were up 7.0 percent. Newer support measures in Britain, which posted a 15.7 percent drop, and Spain - down 15.9 percent - cushioned the downturn, ACEA said.

Articole similare