Passenger car: registrations remain on downward trend due to high fuel prices

Over the summer, demand for new cars in Europe* decreased by 7.3% in July and 15.7%** in August, reflecting the general deterioration in consumer confidence and the effect of continuing high fuel prices. In addition, there were two working days less across the whole region. Over the first eight months of the year, new car registrations declined by 3.9% in Europe*.

In July, new passenger car registrations fell by 7.2% in Western Europe. Germany posted growth (+1.5%) and the French market remained stable (-0.2%). However, the Italian, the British and the Spanish markets dropped by 10.9%, 13.0% and 27.5% respectively. Of the four biggest markets in the new EU member states, only the Czech Republic registered more cars than in July last year (+12.0%). Romania saw its market contract by 33.0%, Hungary by 9.8% and Poland by 1.2%. Overall, new car registrations in the new EU member states decreased by 8.9%.

In August, new car registrations decreased by 16.5% in Western Europe, with only Portugal posting growth (+4.8%). Ireland (-41.6%) and Spain (-41.3%) registered the steepest downturn. Registrations fell by 26.4% in Italy, 18.6% in the UK, 10.4% in Germany and 7.1% in France. Demand for new cars in the new EU member states dropped by 9.3%**. Registrations remained stable in the Czech Republic (+0.5%) and Poland (-0.9%) while declining by 23.3% in Hungary and by 9.0% in Romania.

Over the first eight months of the year, there was a general decline in the number of new passenger cars registered in Europe* (-3.9%). New registrations fell by 4.4% in Western Europe, with a decrease in Spain (-21.1%), Italy (-12.0%) and the UK (-3.8%) overshadowing growth in France (+2.9%) and Germany (+1.7%). Registrations were up 1.8%** in the new EU member states, reflecting growth in Poland (+9.1%) and the Czech Republic (+8.2%) while Hungary (-4.9%) and Romania (-3.5%) were on a downward trend.