Passenger car registrations: +1.6% 10 months into 2018; -7.3% in October
Brussels, 15 November 2018 – In October 2018, registrations of new passenger cars continued to decline across the European Union (-7.3%), although at a more moderate pace than in September.
In October 2018, registrations of new passenger cars continued to decline across the European Union (-7.3%), although at a more moderate pace than in September. The main cause is still the introduction of the new WLTP emissions test on 1 September, which resulted in an exceptional surge in registrations over the summer. As a result, demand for new cars fell in most EU countries last month, including the five major markets.
From January to October 2018, EU demand for passenger cars went up by 1.6% compared to one year ago. Looking at the five biggest car markets, Spain (+10.0%) saw the highest growth rates, followed by France (+5.7%) and Germany (+1.4%). By contrast, registrations declined in Italy (-3.2%) and the United Kingdom (-7.2%).
- The European Automobile Manufacturers’ Association (ACEA) represents the 16 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, Jaguar Land Rover, Mercedes-Benz, Renault Group, Stellantis, Toyota Motor Europe, Volkswagen Group, Volvo Cars, 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, Statistics Manager, email@example.com.
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About the EU automobile industry
- 12.7 million Europeans work in the auto industry (directly and indirectly), accounting for 6.6% of all EU jobs.
- 11.5% of EU manufacturing jobs – some 3.5 million – are in the automotive sector.
- Motor vehicles are responsible for €398.4 billion of tax revenue for governments across key European markets.
- The automobile industry generates a trade surplus of €76.3 billion for the EU.
- The turnover generated by the auto industry represents more than 8% of the EU’s GDP.
- Investing €58.8 billion in R&D annually, the automotive sector is Europe’s largest private contributor to innovation, accounting for 32% of total EU spending.