You could be forgiven for thinking that the recent, and still ongoing Dieselgate emissions scandal, and the subsequent recall of millions of cars would have caused a significant dent in the automotive production industry and it's associated suppliers...
WRONG; almost every European country recorded growth in the car market in the past month. Europe-wide sales rose 8.1% on the same period in 2015, to 3.932 million...not to be sniffed at.
Here at ITP Group Limited we had an inkling that this was the case as our order books are extremely healthy, in fact they read like a "who's who" of the car world. We know that manufacturing is on the up and we're not suprised to hear that it is heading towards the record levels of 2007....long may the rise continue!
EU sales have now increased for 31 months in a row, hitting levels close to those recorded in 2007, shortly before the economic crisis began to hit the car industry. Peter Schmidt, editor at Automotive Industry Data, told the Bloomberg news agency that it looks like the "European car market is recovering much faster than most analysts anticipated - including myself".