Car Sales Growth Slows in Europe
Though the figures showing the recovery of car sales in the EU remained undaunted in the month of April, yet slow growth in demand is causing considerable worry after a brawny first three months. This came to surface on Friday after some data was published by the industry.
The reflection of new car sales by dealers is seen in the registrations of new cars which totalled 1.09 million vehicles as seen in April. That is an increase of 4.6% as compared to the same month one year prior, as per the Association of European Car Manufacturers.
As the current trend goes, a range of incentives and discounts are reducing 12% from the price of a car which may be good news for consumers, but at the same time it is eating into the profit margins of car manufacturers and also pushing down inflation.
There may be another reason for worry related to the news about the slowed growth because it fell to +4.6% in April as compared to the 10% jump in March.
Sales of the Romanian carmaker Dacia which is now part of Renault have increased 34% year-on-year in April. While sales figure of Skoda are upbeat by 22%.
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