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Boost for new car sales in Europe

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Boost for new car sales in Europe

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New car sales in Europe hit their highest monthly rate in five and a half years thanks to a rise in mid-market brands and luxury cars.

Data from the Brussels based Association of European Carmakers (ACEA) showed a 14.8 year-over-year rise in new registrations across Europe and a 14.6 percent gain in the 28 nation European Union excluding Malta.

Volume manufacturers including Volkswagen, Peugeot and Fiat posted double digit gains as did luxury brands Porsche, BMW and Toyota Lexus. Porsche led the way with a 27 percent increase in sales.

Analysts expect the strong performance to continue throughout the second half of the year.