Purchasing power grows across Europe

The German carmaker association published the survey results revealing the growth of registration of new cars in Europe. The number of new vehicles registered in the European Union, Britain, and the European Free Trade Association (EFTA) grew by 10.7% to 911,064 units, the European Automobile Manufacturers’ Association (ACEA) said. 

This condition indicates an improvement in the purchasing power of customers. It also proves the improvement in the jobs market, with the levels of unemployment decreasing while new jobs emerge in the market. 

The experts also claim that stabilising the economy supports customers’ confidence. It means that people across Europe have begun to spend money more easily. The purchasing power shows signs of recovery after the post-pandemic economic collapse and within the current energy crisis.