New figures released by Jato Dynamics have highlighted a reduction in new car registrations across Europe during the last month.
Statistics for October activities revealed a five per cent annual reduction in the Big 5 markets – Germany, the UK, France, Italy and Spain – with 829,980 registrations during the month this year.
The biggest losses were seen in Germany (down 5.6 per cent) and France (down 4.4 per cent), with the rest of the Big 5 holding steady.
It represents a slight softening of buyer sentiment in what has been a particularly strong year to date for European new car registrations. Indeed, the period to the end of October 2016 has seen an overall 6.6 per cent increase in trading volume in comparison to the same period last year.
Responding to the data, global automotive analyst at Jato Dynamics Felipe Munoz said: "It is noteworthy that despite the declines seen in the German and French markets last month, the European car market is still growing overall for the year to date.
"However, we expect to see only moderate growth in Europe's Big 5 markets over the coming months as the market stabilises."
Natalie Brinkley, brand manager at Fuel Card Services, adds: "While markets may have dipped somewhat in October, the overriding positivity in the automotive sector so far this year is something to be celebrated."
Posted on 15th November 2016
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