March depicts bullish car sales in EU

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    FRIDAY: There has been a rise worth 6% in car sales within European Union – nearly 1.7 million vehicles have been sold last month – which brings into hiking sales prior financial crisis (source: European Automobile Manufacturers’ Association).

    In its monthly release, (ACEA) states the result “close to March 2007 levels, just before the economic crisis hit the automotive industry”.

    Latest reports cite Italy to be the firmest in auto-maker’s *growth expansion amid top **five markets in European Union (which account for the bulk of sales in the 28-nation bloc). In contrary to this, the new car sales have been on bear track in Spain and Germany – projecting low grade shopping record due to Easter holidays.

    (*the region reports to have reached bullish rate of approx. 17.4%, within new car registration range)

    (**U.K, Spain, France and Italy)

    In addition to all this an automotive consumer research group, JATO Dynamics reports an ongoing growing trend towards purchasing sport-utility vehicles.The March seasonally adjusted yearly rate – within the top five markets of the region –was 11.04 million vehicles in the initial months of 2016.

    “SUV registrations ranked first, accounting for more than one out of four passenger cars registered.” – JATO

    On overviewing German car maker,Volkswagen in EU; – that still has not been able to erode away black blot over its repute regarding emission-cheating scandal –inspite of its Golf compact as the best-selling auto vehicle alongside it being known as best for sales, its market position had remained unstable during the month of March.

    UPDATE: Apart from this, in accord to auto-manufacturer, Ford Motor Co.’s (NYSE: F) business strategies, it announced to invest $1.6 billion for its new Mexican plant – it plans to construct – from where small cars would be manufactured by year 2018.Ford’s investment also comes amid a presidential election where Republican candidate, Donald Trump, had publicly pressured Ford to drop its plans to expand in Mexico.

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