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Italian sales boost European car market
REUTER
Brussels, July 15: West European car sales soared nine per cent year-on-year in June, partly reflecting a booming Italian market triggered by an incentive scheme, the European Automobile Manufacturers' Association (ACEA) said on Tuesday. "This nine per cent is due to some special effects...and some countries are recovering," ACEA director of trade and economics Jorg Schroder said. In the first six months of the year, new car registrations rose a more modest 1.7 per cent to 6,991,700. Asked whether ACEA might revise upwards its forecast of sales growth of more than two per cent for the full year, Schroder said: "I hope so." The increase in new registrations to 1,135,600 cars in June from 1,042,000 the same month last year came after a year-on-year decline of 1.9 per cent in May.In June, Italy stood out with a 50.7-per cent jump in registrations to 222,800 cars following a year-on-year increase of 43.2 per cent in May, thanks to a national cash incentive scheme which encourages motorists to turn in old cars for scrap in exchange for buying new models. The scheme was introduced in January. In contrast, the French market declined 30.7 per cent to 93,200 units, still depressed by the end of a similar incentive scheme in France more than six months ago. Other national markets also showed wide variations. Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.
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