Car sales accelerate as Germany rebounds
New car sales in Germany jumped the most in over a year in March, industry sources said, as makers benefitted from an additional sales day and the robust sentiment in Europe's largest economy.
Passenger-car registrations increased 9pc to 323,000 vehicles, two sources told Reuters yesterday ahead of publication of official car sales data.
That is the biggest monthly gain in at least the past 15 months, according to records of Germany's KBA federal transport authority. First-quarter sales rose 6.5pc, one source said.
The figures coincide with upbeat data about the state of the economy.
The country's jobless rate hit a record low of 6.4pc in March while the closely-watched Ifo business climate index was up for a fifth straight month, beating consensus forecasts.
Germany's car sales recovery reflects the positive trend in Europe's other key car markets.
France's CCFA raised its 2015 forecast on Wednesday after registrations rose 9.3pc in March, while Italy and Spain also posted double-digit gains (Reuters)