Passenger car registrations: +9.9% over five months; +16.0% in May
Brussels, 16 June 2016 – In May 2016, the European passenger car market saw strong growth for the 33rd consecutive month. Registrations during the month grew by 16.0% compared to May 2015, reaching 1,288,220 units.
In May 2016, the European passenger car market saw strong growth for the 33rd consecutive month. Registrations during the month grew by 16.0% compared to May 2015, reaching 1,288,220 units. In volume terms, these results come close to May 2008, just before the economic crisis hit the automotive industry. Among the major markets, Italy (+27.3%), France (+22.3%), Spain (+20.9%) and Germany (+11.9%) all recorded strong performances with double-digit percentage gains. The UK market also grew (+2.5%) last month, although at a more modest rate.
From January to May 2016, new passenger car registrations increased by 9.9%, totalling 6.4 million units. All major markets posted growth, contributing to the overall upturn of the EU market. The Italian (+20.5%), Spanish (+12.5%) and French (+10.5%) passenger car markets saw double-digit growth over the period, followed by Germany (+6.8%) and the UK (+4.1%). Looking ahead, it is expected that the market will maintain its positive momentum. For the full year 2016, ACEA recently revised its forecast to 5% growth.
* Data for Malta not available
- 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, email@example.com.
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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.