Business
Hope Rises For EU Car Sales
After months of doom and gloom for European automakers, the latest car registrations data show there may be light at the end of the tunnel.
New car registrations grew in April for the first time in 19 months, according to figures from the European Automobile Manufacturers’ Association.
While the rise was small just 1.7% and the gain may be due to the fact that there were two more business days in the month compared to April 2012, industry experts were still cheered by the news.
“There is a growing sense that Europe is through the worst of it,” said Mike Tyndall, head of autos equity research at Barclays.
Shares in Europe’s major automakers, including Volkswagen, PSA Peugeot Citroen, Renault and Daimler, all pushed higher. Peugeot’s stock rallied by as much as 7%.
New car demand in the United Kingdom continued to grow, but the picture remains mixed elsewhere in the EU. Car registrations were up in Spain and Germany, but fell in Italy and France, which dipped back into recession in the first quarter of the year.
The group uses new car registration data instead of car sales to track demand across the 27 EU nations, though the data is very similar.
The latest report shows that Germany’s Volkswagen is holding its position as market leader with a 27% market share, up two percentage points compared to April 2012.
New car registrations have fallen by double-digit percentages in most European markets this year. Automakers, which are scaling back production in Europe, continue to warn that their earnings are suffering because of weak sales in the region.
Car demand has been slashed by high unemployment, falling disposable incomes and depressed consumer confidence.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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