New car sales in Europe
The automotive industry in Europe shows signs of recovery, getting past the woes of the 2008 crisis that roiled the main automobile markets in Europe. Optimistic numbers throughout 2016 have sparked passenger vehicle manufacturers’ renewed hope for growth in the market. In 2016, around 17.3 million passenger cars were sold in Europe, making it one of the largest regional markets for passenger cars. The number of new car registrations also continues its positive trend, although there have been months in 2016, when year-over-year growth was very low or even negative. The highest month-over-month growth rate in this period was registered between May of 2015 and May of 2016, when registrations increased by 14.3 percent. The largest markets, represented by Germany, France, the United Kingdom, Italy and Spain, make up around 75 percent of car sales in Europe. Germany is the fourth largest single-country market in the world in terms of car sales.
With almost 122,700 units sold in February 2018 alone, Volkswagen’s namesake brand was ranked as the best-selling car brand in Europe. The runner-ups included Renault, Peugeot, Ford, Opel/Vauxhall and rounded off with BMW.