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11/19/2019, 10:12 AM (Source: TeleTrader)
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EU car sales hit decade-high growth rate in October

Car sales in the European Union increased by 8.7% to reach 1.18 million registered units in October, marking the highest October growth since 2009, the European Automobile Manufacturers Association (EAMA) said on Tuesday.

Year-over-year, the rate recorded an even sharper jump given that auto sales in the bloc dropped by 7.3% in the same month a year prior. Meanwhile, car sales within the bloc slipped 0.7% in the first ten months compared to the same period last year.

The rise was driven by Germany's growth of 12.7%, followed by France with 8.7% and Italy with 6.7%. On the other hand, the United Kingdom car sales decreased in October with the number of registered vehicles dropping by 6.7%.

Breaking the News / GA