European new car market ends 2014 on a high

European new car registrations grew 5.7% in 2014, following 16 months of continuous growth for the market, according to the European Automobile Manufacturers’ Association (ACEA). Last year 12,550,771 passenger cars were registered in the EU; the first year it has recorded a growth in the market since 2007.Spain saw an 18.1% rise on 2013 driven by a nationwide scrappage scheme, followed by the UK which demonstrated the second largest rise (9.3%) in 2014. More moderate growth was seen in Europe’s other large markets such as Italy (4.2%), Germany (2.9%) and France (0.3%).December saw European new car registrations grow 4.7% to 951,329 units, and also marked the 34th consecutive month of growth for the UK car market.  There were 2,476,435 cars registered in the UK in 2014 – the highest figure in a decade and fourth largest of all time. Read our full report on the UK car registrations here.Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window) read more