European Car Market is on the Road to Recovery after Scrappage
A foremost supplier of automotive data and intelligence states that the European motor industry is displaying marks of retrieval due to the introduction of scrappage schemes on the continent.
Jato Dynamics’ monthly European new car market study for May 2009 has exposed that even though the car market is behind by 13.1% year-on-year, there is a 2.4% step up on the preceding month’s figures.
The scrappage schemes which were brought out through out a number of European markets are now starting to have an encouraging result.
The German market has recorded 39.7% up comparatively to that of May 2008 which is a 20.3% enhancement more than the figures of last month. France shows an 11.8% increase over the figures for April.
The Jato figures reveal that the Volkswagen Golf carries on leading the sales charts with increased sales by 32.1% on the same month last year. The Fiesta is up by 56.0% in May and also the Fiat Punto, Fiat Panda and Volkswagen Polo have all modified sales in May when equated to the same month last year.