European Car Sales Rise in March

The recovery in the European Union’s car industry carried on through March, the latest figures show, with rapidly increasing sales in Spain and the U.K. and a bounce back in the mass market providing some much needed cheer for the region’s automakers.

Car sales in the European Union increased for a seventh month in a row in March, posting a 10.6 percent increase from the same period in 2013, bringing new passenger car registrations growth for the quarter to 8.4 percent, the monthly survey from the European Automobile Manufacturer’s Association reports.

However, with nearly 1.5 million vehicles registered, it was the second lowest result figure for March since the ACEA began compiling data for the expanded EU in 2003. Fort he quarter, new car registrations increased by 8.4 percent.


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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza