Are the first green shoots appearing in the European market?

The European automotive industry has suffered from years of pessimism, but there are green shoots appearing. ACEA data released in mid-February showed a 5.5% increase in January sales, year-on-year, marking the fifth consecutive month in which new passenger car registrations increased. Although growth is modest, there is a growing sense of cautious optimism throughout the industry. Speaking at the recent Geneva Motor Show, VDA’s Matthias Wissmann said: “We have come to Geneva in a confident mood. The Western European market will expand again in 2014 after a long period of sluggish activity.”