Cars

Car Sales in Europe Up for Modest Growth

2013 Frankfurt Motor Show Logo | Official Website

2013 Frankfurt Motor Show Logo | Official Website

Although no one at the 2013 Frankfurt Motor Show is likely brave enough to predict what lies ahead for the European car industry, there were signs that its six-year slump looks to have eased.

According to European Automobile Manufacturer’s Association, car sales in the region during the first half of 2013 fell to 6.7 percent. But it was reported that major markets are stabilizing in the last couple of months.

Notable increase on share prices by a number of car manufacturers recently shows new confidence among investors. They are hoping that the industry had finally found a workaround. In fact, July and August showed strong sales especially in Spain and Italy.

However, heavy discounts and tough competition are signs that automakers are still struggling to push through price rises to the buyers. That’s why it is expected that car sales in Europe for the entire year will still be lower than last year.

Regardless, analysts are forecasting a return to growth next year.

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