Europe's auto market is showing fresh signs of life as new-vehicle registrations rose for the third straight month in April, giving investors a stronger read on demand at a time when automakers are still battling overcapacity, US tariffs and softer China sales.
Registrations increased 7% to 1.15 million vehicles, according to the European Automobile Manufacturers' Association, with major markets including Germany and the UK contributing to the gain. The bigger story was the shift in powertrain demand, as EV deliveries jumped 38% across the region, supported by more affordable models from Volkswagen, Stellantis (NYSE:STLA) and Chinese brands led by BYD (BYDDF). In Germany, Europe's largest car market, a new subsidy helped push EV sales up 41%, suggesting policy support could be adding another layer of momentum to the market.
Source : finance.yahoo.com