The European new car market recorded its 27th consecutive month of growth in November, with 1,085,259 cars sold across the continent, 13.7% above November 2014’s total.

All the ‘big five’ markets recorded growth in the month. Spanish new car sales were up 25.4% year-on-year, while Italian new car sales increased by 23.5% over the same period.

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French sales growth also reached double digit figures in the month, up 11.3% year-on-year, while German sales increased 8.9% over the same period. After a slight fall in October, UK car sales returned to growth in November, with a 3.8% year-on-year growth.

Only two countries sold less cars in November 2015 than November 2014 – Estonia and Luxembourg, across the entire EU.

Anil Valsan, EY global analyst, automotive & Transportation, told Motor Finance the upward momentum in sales was driven by a combination of factors, including incentives and scrappage schemes in some markets, cheap fuel prices, a weak Euro, new model launches, low interest rates and economic growth.

He said: "Rentals and self-registrations drove growth in Germany, France and the UK, while growth in consumer confidence boosted car sales in Italy and Spain. However, growth dampened during the past two months as a result of fewer working days, slowing tactical registrations and the growing base of comparison."

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All the major manufacturing groups posted year-on-year growth in November, with VW Group up 4.1%, PSA Group up 13.6% and Renault Group up 14.7%. Ford sales for the month were up 20.5% year-on-year in November.
2016

Looking to 2016, Valsan said: "As we move into 2016, the car market is expected to remain on the growth track, driven by the positive economic environment, low financing costs, low fuel prices, high discounts and some remaining pent-up demand after six continuous years of downfall. However, growth is expected to be slower, with interest rates likely to edge up, and a growing base of comparison.

From a long-term perspective, it seems unlikely that the market will reach its pre-crisis sales level even by the end of this decade, due to shifting customer preferences from car ownership to access, the declining interest of the youth in cars, and several large cities or countries taking measures to deter car usage".