BUSINESS

Car deliveries soar 42 pct in Greece

Europe’s car sales rose 4.3 percent in May as volume brands Skoda, Renault and Opel posted stronger growth than premium marques BMW and Audi, according to registrations data published on Tuesday.

Europe’s car market has shown signs of recovery from a six-year slump, but excess production capacity, heavy discounting and incentives continue to distort the true level of demand.

Registrations in the European Union and the countries of the European Free Trade Association (EFTA) increased to 1.13 million cars last month, from 1.09 million a year earlier, the Association of European Carmakers (ACEA) said.

Deliveries surged in the region’s southern markets that were hit by the previous economic recession, with growth of 17 percent in Spain, 37 percent in Portugal and 42 percent in Greece.

[Reuters]

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