Rays of recovery - European car sales soar

 on scrappage scheme

According to figures released this week by ANFAC, the Spanish carmakers' association, new car registrations soared in Spain and the UK in February 2010.

ANFAC said that the February 2010 sales figure of 91,281 vehicles was a 47% YoY rise from February 2009. In the UK, 68,686 units were sold in February 2010, up by 26.4% YoY.

Of those British sales, 19.6% were due to the continuing scrappage scheme, due to end at the end of this month.

Releasing the figures on March 4th 2010, the UK's car industry association SMMT said that the scrappage scheme had contributed to eight months of positive sales.

Earlier this week, the Italian carmakers' federation UNRAE said that the new car market rose by 25.75% YoY, whilst the French CCFA posted a rise of 17.8% YoY, to 179,926 registrations.

However, these countries that retain their scrappage schemes are looking anxiously to Germany, which posted a 30% fall in the number of new registrations in February. Foreign brands were particularly hard hit, falling 45%. The German scrappage scheme ended in September 2009.