Sales recovery stalled by inflation
- 19 October 2022
- Posted by: Alan Feldberg
- Category: News
New data has reported that new car sales across Europe grew for the second month in a row during September.
According to ACEA, a combined 1.05 million vehicles were delivered to customers across the EU, UK and European Free Trade Area last month. That represents an increase of 7.9% from the same month last year.
The uptick builds on August figures, when the industry reported the first increase in sales numbers for more than a year.
However, ACEA is warning of tougher times to come as rising inflation and a bleak economic outlook threaten to constrict consumer spending power.
According to analysts at Bloomberg, economic output in the Euro bloc will drop by 0.1% in 2023. This comes just after a month after it predicted 0.3% growth.