Here’s How Ford and General Motors Are Doing in Europe
According to European auto sales data, the recession in the region is starting to come to an end. Vehicle sales in Europe for September rose 5.5 percent, month-over-month, to 1.9 million vehicles, the biggest increase since 2011, according to numbers from the European Automobile Manufacturers Association seen by Bloomberg.
While the European auto market is beginning to improve, analysts cited by Bloomberg also pointed to heavy dealer subsidies and a government incentive program in Spain as reasons for the uptick. The Spanish government is offering rebates of up to 2,000 euros on vehicle trade-ins, which caused auto demand in the country to surge 29 percent.
“Car sales in the EU are showing signs of improvement, indicating that the worst is behind us,” Peter Fuss, a partner at consulting firm Ernst & Young in Frankfurt, said in an email to Bloomberg. “The sales, however, continue to be artificially boosted by huge discounts and self-registrations by dealers.”