EU sales hit nine-month growth streak, but discounts distort true demand levels

Europe's new car market remains on the growth path though momentum still shows signs of slowing. New car sales across the EU rose 6.5% year-on-year in September to 1,235,501 units, with all of the five major markets reporting growth, according to data from the European Automobile Manufacturer's Association (ACEA). Last month's growth rate follows a subdued 2.1% rise in August, 5.6% growth in July and 4.5% in both May and June. For the January-September period, EU car sales remain up 6.1% on last year at 9.57 million units.