A record 1,92 million new cars were sold in Europe in March 2017. This is an increase of 10,5% over March last year and the highest monthly volume ever recorded. Part of the explanation for the surge in sales is that Easter fell in April this year instead of in March, like last year, which means dealers had extra selling days in 2017. Still, almost 2 million sales in a single month is an impressive figure and it even comes close to the 2,02 million sales in China this same month. March sales are usually around 11,5% of total annual volume, which extrapolates to an expected record 16,7 million sales in 2017. That would be an increase of 10,3% on 2015 and significantly higher than the previous record of 16,1 million sales in 2004.
All five of the big markets showed strong growth in March, with Italy (+18,2%), Spain (+12,6%) and Germany (+11,4%) leading the way with double digit gains, while the UK (+8,4%) and France (+7%) grow slightly slower than te rest of the market. 16 out of the 30 markets showed double digit gains and only 5 lost volume, all in single digits. The fastest growing market was Greece (+49,5%), recovering from its deep recession. In the first quarter, European car sales increased 7,8% to 4,22 million units. Italy was the fastest growing of the big markets at +11,9%. [Read more…]