Passenger car: European registrations slip 2.0% in the first half of 2008
Brussels, 16/07/2008 – Reflecting overall difficult economic circumstances, European* new passenger car registrations fell 2.0%*** in the first half of 2008.
Brussels, 16/07/2008 – Reflecting overall difficult economic circumstances, European* new passenger car registrations fell 2.0%*** in the first half of 2008. Rising inflation and soaring fuel prices were among the main factors influencing new registrations.
The largest European markets responded in different ways, however, with Germany an France continuing on a growth path (+3.6% and 4.5% respectively), contrasting with a sizable decline of the Spanish and Italian markets (-17.6% and -11.5% respectively). In total, 8,344,177*** new cars were registered over the first six months of the year. The British market performed better than forecast with a decrease of 1.6%. In June alone, the European market contracted by 7.9%. No calendar effect occurred as the number of working days was the same as in 2007 for the vast majority of countries. The monthly figure reveals a similar pattern: in France (+1.5%) and Germany (+1.0%), the number of registrations increased, while the markets in the UK (-6.1%), Italy (-19.5%) and Spain (-30.8%) deteriorated. In total, 1,427,008 new cars were registered in June. With the exception of Hungary (-2.2%), Estonia (-11.2%) and Latvia (-32.2%), all the new EU Member States posted growth in the first half year, resulting in a 6.9%*** increase for the whole region. Poland** and Romania were again the two leading markets with about 150,000 new passenger cars registered from January to June.
Monthly figures showed a less buoyant situation as the new EU Member States registered altogether 106,906 new vehicles, or 3.7% less than in June last year.
* EU27 + EFTA, data for Cyprus and Malta unavailable
** Data for Poland were still estimates at the time of publication
*** Figures updated at 10 am, on July 16, 2008
- The European Automobile Manufacturers’ Association (ACEA) represents the 14 major Europe-based car, van, truck and bus makers: BMW Group, DAF Trucks, Daimler Truck, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Iveco Group, JLR, Mercedes-Benz, Renault Group, Toyota Motor Europe, Volkswagen Group, and Volvo Group.
- Visit www.acea.auto for more information about ACEA, and follow us on www.twitter.com/ACEA_auto or www.linkedin.com/company/ACEA/.
- Contact: Francesca Piazza, Senior Statistics Manager, email@example.com.
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About the EU automobile industry
- 13.0 million Europeans work in the automotive sector
- 11.5% of all manufacturing jobs in the EU
- €374.6 billion in tax revenue for European governments
- €101.9 billion trade surplus for the European Union
- Over 7% of EU GDP generated by the auto industry
- €59.1 billion in R&D spending annually, 31% of EU total