Europe still cautious after 20 months of growth

Europe's passenger car market continued to charge ahead in April, setting a six-year high for the month. Across the EU, car sales rose 6.9% year-on-year to 1,166,482 units, according to the European Automobile Manufacturers Association (ACEA). This marks the 20th consecutive month of growth and follows a 10.6% rise in March. The faster than expected improvement stems in part from healthy recovery in those countries hardest hit by the economic crisis, notably Portugal, Greece and Italy.