Resilient EU bags another year of growth as clouds roll in

Europe's new vehicle market bagged its third consecutive year of growth in 2016, with final figures from the European Automobile Manufacturers Association (ACEA) showing a 6.8% year-on-year (YoY) rise in volumes to 14,641,356 units. The 12-month period ended with a record December, where volumes rose 3% to 1,143,653 units. ACEA is keen to interpret the figures as "a sign that despite political instability and economic uncertainty following key events in 2016, such as Brexit or the Italian referendum, consumer confidence has remained robust."

Analysts at BMI Research commented that "Europe's sales in 2016 were built on solid macroeconomic foundations."