(ACEA) Europe’s passenger car market dropped 19.1% year-over-year in August to 622,993 units. Spain, Italy, Germany, and France dropped 28.9%, 27.3%, 23.0%, and 15.0%, respectively.
Fig: New Passenger Car Registrations in the EU
In the first eight months, passenger car sales increased by 11.2% to 6.8 million units. Four major markets; Italy, France, Spain, and Germany registered a growth of 30.9%, 12.8%, 12.1%, and 2.5%, respectively.
New passenger car registrations plummeted in July 23.2% to 823,949 units, ending four months of consecutive growth.
New registrations in the first half of the year went up by 25.2% with an increase of 10.4% recorded in June.
In the second quarter, petrol passenger cars had the highest market share at 41.8% while electric and hybrid segments occupied 7.5% and 19.3%, respectively.
About 6.7% or 14.6 million Europeans are employed directly or indirectly in the auto industry, which currently generates about 8% of the European Union’s GDP.
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