The European Automobile Manufacturers’ Association (ACEA) revealed during its annual conference that it expects a 2% growth in new car registrations this year across Europe.

This annual growth rate is substantially lower than the 5.7% increase recorded in 2014, which was the first positive annual result since the financial crisis began.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

In terms of units, the association said it expects 13m units will be sold in 2015.

ACEA President Carlos Ghosn suggested that growth should be viewed with caution.

He said: "Our optimism about this early sign of recovery must be tempered with caution, given the economic uncertainties still facing many countries."

EVs

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The ACEA also revealed there was a 37% increase in electric vehicle (EVs) sales compared to 2013 figures. There were 75,331 EVs registered in the EU, representing just 0.6% of total market.

Erik Jonnaert, the association’s secretary general, said: "ACEA’s members will continue to invest in alternative powertrains, including electric, hybrid, fuel-cell and natural gas-powered vehicles. This needs to be supported by the expansion of the charging infrastructure, as well as a more consistent EU-wide approach to customer incentives."