Passenger car registrations: -7.5% in January 2020
Brussels, 18 February 2020 – In January 2020, the EU passenger car market contracted by 7.5% to 956,779 units.
In January 2020, the EU1 passenger car market contracted by 7.5% to 956,779 units. Major taxation changes announced by some EU member states for 2020 pulled registrations forward into December 2019, explaining this January drop. Other contributing factors included weakening global economic conditions and uncertainty caused by the UK’s departure from the European Union.
As a result, demand for new passenger cars in the four major EU markets fell during the first month of 2020. France posted the strongest decline (-13.4%), followed by Spain (-7.6%), Germany (-7.3%) and Italy (-5.9%).
1 European Union refers to the new composition with 27 member states (excluding the United Kingdom). For year-on-year comparisons, historical data are recalculated to adjust to the new EU27 perimeter.
- The European Automobile Manufacturers’ Association (ACEA) represents the 15 major Europe-based car, van, truck and bus makers: BMW Group, CNH Industrial, DAF Trucks, Daimler, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Jaguar Land Rover, 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, firstname.lastname@example.org.
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About the EU automobile industry
- 14.6 million Europeans work in the auto industry (directly and indirectly), accounting for 6.7% of all EU jobs.
- 11.5% of EU manufacturing jobs – some 3.7 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 €74 billion for the EU.
- The turnover generated by the auto industry represents more than 8% of the EU’s GDP.
- Investing €62 billion in R&D annually, the automotive sector is Europe’s largest private contributor to innovation, accounting for 33% of total EU spending.