Compared to the recent U.S. auto sales, which have been driving the U.S. economy for the past year, Europe’s sales numbers don’t seem all that encouraging. Four-month sales were still down 7 percent. Ford, PSA Peugeot Citroen was down 10 percent, and BMW was down 3 percent. The European market is struggling through a 20-year low point with analysts hoping that “the worst is over.”

Still, there are plenty of bright spots including a 10 percent increase in Volkswagen registrations as well as an 11 percent increase in car sales for Daimler AG. Most importantly, registrations in the United Kingdom were up 15 percent, and Germany, after five months of falling auto sales, finally saw a 4 percent gain in auto sales.

The industry is hoping to hold onto these gains and build on them in the coming months, and the European Central Bank is helping by slashing interest rates. As of May 2, the benchmark interest rate is 0.5 percent. Not that long ago, easing credit restrictions and offering more subprime credit options revived the auto industry in the United States, so it is perfectly possible that the same will happen in Europe.

Check out the Car Buyerz blog weekly for more car news and the latest incentives and discounts, and follow us on Facebook and Twitter for our latest news and updates!

Image courtesy of adamr / FreeDigitalPhotos.net

Back in 2012, Toyota won back the distinction as the world’s largest automaker after losing out to General Motors back in 2011. In the first quarter of 2013, Toyota has sold 2.43 million vehicles, trailed closely by General Motors at 2.36 million and Volkswagen at 2.27 million vehicles.

A spokesperson from Toyota downplayed their win, stating, “Rather than pursuing numbers, we try to sell one car at a time, producing good cars. We aren’t focused on being number one.” Modesty aside, however, I’m sure that Toyota is very happy to be back on top.

The tsunami and earthquake in Japan back in 2011 disrupted Toyota’s production schedule, and they lost out to GM, their biggest competitor of recent years. Being back on top is a testament to Toyota as a company and Japan as a country. They faced tragic, devastating events and still survived and came back strong.

Check out the Car Buyerz blog weekly for more car news and the latest incentives and discounts, and follow us on Facebook and Twitter for our latest news and updates!