The European Automobile Manufacturers’ Association (ACEA) revealed during its annual conference that it expects a 2% growth in new car registrations this year across Europe.
This annual growth rate is substantially lower than the 5.7% increase recorded in 2014, which was the first positive annual result since the financial crisis began.
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In terms of units, the association said it expects 13m units will be sold in 2015.
ACEA President Carlos Ghosn suggested that growth should be viewed with caution.
He said: "Our optimism about this early sign of recovery must be tempered with caution, given the economic uncertainties still facing many countries."
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By GlobalDataThe ACEA also revealed there was a 37% increase in electric vehicle (EVs) sales compared to 2013 figures. There were 75,331 EVs registered in the EU, representing just 0.6% of total market.
Erik Jonnaert, the association’s secretary general, said: "ACEA’s members will continue to invest in alternative powertrains, including electric, hybrid, fuel-cell and natural gas-powered vehicles. This needs to be supported by the expansion of the charging infrastructure, as well as a more consistent EU-wide approach to customer incentives."
