US 2006 new-car sales totalled 15.6 million , 740,000 units more than Europe, according to research conducted by Automotive News Europe.

But in the first 10 months of 2007 the gap narrowed to10,980 units. The recent credit crisis in the US and hikes in fuel prices have stalled growth while in Europe, growth in two major markets, Italy and the UK, has boosted volume. An increasing demand in central and eastern Europe has also been a contributing factor. In the first ten months of 2007, overall European sales grew 1.2 per cent to 13,572,669 units.