European Ca Rmakers Slightly More Optimistic For 2017: Association

PARIS, June 1 (APP - UrduPoint / Pakistan Point News - 01st Jun, 2017 ) : The European automobile sector said Thursday it feels slightly more optimistic about business this year and upgraded its forecast for new registrations in 2017, despite growing uncertainty for the industry.

Last year, new car sales in Europe increased by 6.8 percent to 14.6 million units, the European Automobile Manufacturers' Association, ACEA, said in a statement. "This year, a slowdown in EU car sales is likely with growth at around 1.5-2.0 percent," it said.

Nevertheless, "this represents a slight upward revision from ACEA's initial January forecast of about 1.

0-percent growth," it added. However, there were some clouds on the horizon, cautioned ACEA chief Erik Jonnaert.

"Despite the positive trends... uncertainty is expected to overshadow our sector in the years to come," Jonnaert said. "We therefore urge the EU to continue its efforts to safeguard the competitiveness of our industry and ensure fair access to the global marketplace." At the end of April, the number of new cars sold in the EU advanced by 4.7 percent on a 12-month basis, ACEA calculated.