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European New Car Registrations Decline At Faster Rate In August: ACEA

246 days ago

(RTTNews) - Registrations of new passenger cars in Europe dropped at a faster rate in August, data released by the European Automobile Manufacturers' Association (ACEA) showed Tuesday.

New passenger car registrations in the EU 27 nations excluding Malta fell 8.9 percent year-on-year, following a 7.8 percent in July, the Brussels-based ACEA said. Sales dropped for the third consecutive month, after stabilizing in May. The latest decline was the most severe since February, when sales slumped 9.7 percent.

Demand dropped 4.7 percent in Germany, after a 5 percent contraction in July. In France, registrations fell 11.4 percent, following the previous month's 0.7 percent decline. Italy registered a 20.2 percent slump, which came after July's 21 percent decrease.

Meanwhile, Spain logged a 3.4 percent increase in car sales, rebounding from a 17.2 percent slump in July. Car registrations in the U.K. remained stable in August.

In the January-August period, new car registrations in the EU dropped 7.1 percent from a year ago with the U.K. emerging as the sole market with growth.

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