18 Mar 2020
All major markets report decline in sales, due in part to weakening global economy and consumer uncertainty
Brussels - The EU passenger car market contracted by 7.4% to just over 957,000 units registered during the month of February, according to the data released by the European Automobile Manufacturers Association (ACEA) 18 March.
The decline was linked to a combination of factors, including changes to vehicle taxation in various EU member states which brought registrations forward to December 2019.
In addition, weakening global economic conditions and consumer uncertainty led to a fall in demand in all major markets.
Germany recorded the most significant drop at 10.8%, followed by Italy, Spain and France which registered declines of 8.8%, 6.0% and 2.7% respectively.
Over the first two months of the year, total registrations of new cars in the European Union were down 7.4% with all major markets posting downward trend.
During the two-month period, Germany posted a decline of 9.0% while France, Italy and Spain recorded decreases of 7.8%, 7.3% and 6.8% respectively.
For year-on-year comparisons, ACEA said it recalculated historical data to exclude the UK’s contribution.
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