European new-car sales maintained double-digit growth in September despite higher interest rates raising the cost of acquiring a car.
New-car registrations rose 11 percent to 1.17 million units in the EU, EFTA and U.K. markets, according to data from industry lobbying group ACEA on Friday, with order backlogs helping manufacturers overcome pressure from higher financing costs for customers.
The result marked the 14th consecutive month of growth in Europe.
Sales of full-electric vehicles also edged higher by 13 percent to 187,358.
Europe’s car market is still feeding off pent-up demand, which is helping to offset economic headwinds and high inflation straining consumer budgets.