European car market fell by 7.4%

FineAuto
European car market fell by 7.4%

As reported by Ukrautoprom, in January 2020, the passenger car market, the EU declined by 7.5% to 779 956 units. Significant changes in taxation announced by some member States of the EU for 2020, boosted registrations in December 2019, which explains that the January drop. Also, the cooling demand was impacted by the weakening global economic conditions and the uncertainty caused by the UK’s exit from the European Union.

As a result, the January implementation of new passenger cars in four main EU markets decreased: in France 13.4%, Spain 7.6%, Germany 7.3% and Italy by almost 6%.

The first place among countries in the number of registrations of new cars retained the Germany – 246 300 cars.

In second place is Italy, where in January it was 155 528 auto.

Completes the leadership Troika of France, where it sold 134 of 229 new cars.

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As for European manufacturers, the first line has traditionally been VW Group, which within one month has sold in the EU 254 872 cars, while the decline amounted to 0.4% compared to last January.

In the second place PSA Group with a score of 158 719 sold cars, which is 12.9% less than a year ago.

And the third result from the RENAULT Group – 91 912 PCs (down 16.3 percent)

For reference: As explained by ACEA, this year in the statistical report, the term EU refers to 27 member States (without the UK). This composition will be used for annual comparisons, in this connection the data will be resampled to adjust to the new format of the EU27.

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