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The Geneva Motor Show 2014 Kicks Off with Good News For the Car Industry

March 6, 2014

Today the 2014 Geneva Motor Show opened to the public amidst much excitement and buzz in the industry.

Industry Growth

The automotive industry took one of the strongest hits during the recession. But recently released figures from the ACEA indicate that the the economic downturn in Europe is beginning to turn around. European figures from January show a 5.5% rise in new car registrations. Over the past few years where car manufacturers have primarily focused on survival, new figures have injected much needed optimism into the market as automakers look to the future.

In the UK, the Society of Motor Manufacturers and Traders released fresh statistics today showing a 3% rise in new car registrations. This tops off two years of consecutive growth in new car sales in the UK. The industry could have the small car market to thank for this, as sales have been bolstered by increased demand. Consumers are looking to more efficient cars for lower running and maintenance costs.

Despite positive figures, some automakers remain skeptical and claim figures could be skewed by unsustainable discounting, credit offers and government scrappage schemes. Although these have helped to keep the car industry afloat in recent years, they are not a long term solution. Will consumers in the near future be able to afford to buy without these discounts?

Hot News At The 2014 Geneva Motor Show

Porsche have unveiled a new hybrid version of their 4-door saloon. Using a combination of its 3 litre petrol engine and electric motor, the Panamera S will be capable of 167 mph. It is also able to travel a distance of 20 miles on battery power alone, significantly reducing its environmental impact on short journeys.Wolfgang Hatz, research director for Porsche, has been quoted saying “We know our duty and we have big concerns about the environment”. This is Porsche’s attempt at tackling the growing pressure from consumers for greener cars whilst still remaining practical.

Another big launch at this year’s Geneva Motor Show is the new much-anticipated Lamborghini Huracan, which has caused quite a stir amongst supercar fans. Pricing is expected to be around £165,000 – not cheap – but the Huracan is set to replace the previous Gallardo model and will be the cheapest car in Lamborghini’s line-up. The stunning new design features sharp, angular lines combined with attractive curved body panels – inspiration for the Huracan looks like it’s been taken from a fighter jet! Performance figures are equally as impressive: a 5.2L V-10 engine will produce 610 bhp, and the supercar will also boast a top speed in excess of 200 mph.

If this has inspired you to look for a great deal on your next car, start by checking out our loan calculator. We take the hassle out of financing and work with dealers and lenders to find the best deal for you.

The Geneva Motor Show will run from the 6th-16th March – stay on top of our blog as we post regular updates on all of the hottest news across the event.

About The Author

Jon Le Roux is co-founder and company director of The Car Loan Warehouse. Being a mad engineering and motorsport enthusiast, I spend more hours than is healthy, watching, reading or talking about cars, boats, motorbikes…..basically anything with an engine.