European car sales reached a 10-year high last year as widening economic growth boosted consumer confidence, with SUVs from French manufacturers Peugeot and Renault, Italian competitor Alfa Romeo and Japanese rival Toyota propelling demand.
Registrations in 2017 increased 3.3 percent to 15.6 million vehicles, the Brussels-based
European Automobile Manufacturers’ Association, or ACEA, said Wednesday in a statement. The figure was the highest since a record 16 million autos were delivered in 2007. December sales dropped 4.8 percent from a year earlier to 1.14 million vehicles, hurt by extra days off for Christmas versus the 2016 period.
The economy of the countries sharing the euro probably
expanded at its fastest rate in a decade last year, according to European Central Bank estimates, and unemployment is at the lowest since 2009 across the region, including all-time lows in Germany and
Poland. Sport utility vehicles gaining customers in 2017 included
Renault SA’s Captur and the Logan MCV Stepway from the company’s Dacia division, as well as the newly introduced Peugeot 5008 and Citroen C3 Aircross from
PSA Group and Alfa Romeo’s
Stelvio.
The European car market’s growth is likely to slow in 2018, with Renault predicting a 1 percent gain and research company Evercore ISI foreseeing “flat” demand. Sales in the U.K., which fell 5.7 percent in 2017, will probably remain a drag on the region’s figures amid car buyers’
uncertainty over how Britain’s pending exit from the European Union will affect household budget, LMC Automotive consulting company said in a report last month. Customers’ questions about the future of
diesel technology will also hold back demand.
Among the top 10 car sellers in Europe,
Toyota Motor Corp. posted the steepest increase last year, at 12 percent. The Japanese company
said a week ago that European demand for its compact crossover RAV4 hybrid surged 31 percent in 2017. Renault’s group European sales rose 6.7 percent, helped by Dacia’s 12 percent gain. A 30 percent jump at Alfa Romeo contributed to parent
Fiat Chrysler Automobiles NV’s 5.2 percent increase.
The ACEA reports figures from the 28 EU countries, excluding Malta, as well as Switzerland, Norway and Iceland.