ERJ staff report (DS)
Brussels -- For the fifth consecutive month, new registrations of commercial vehicles in Europe declined. In September, demand for new vehicles fell by 8.8 percent, despite two extra working days across the region. Markets were stable in the new Member States (+0.2 percent) but contracted significantly in Western Europe (-9.8 percent), with a falling demand in all commercial vehicle categories, except buses and coaches.
Over the first nine months of 2008, European registrations were down 3.8 percent to 1,978,926 units, as the decline in the last few months overrode the positive results in the beginning of the year. This is reflecting the consequences of the credit crunch and the subsequent spillover of the financial crisis to the real economy, which are both negatively affecting demand for commercial vehicles. Geographically, results were mixed as the new EU Member States posted an 8.6 percent growth, counterbalancing the 5.2 percent decline in Western Europe.
In September, the segment of light commercial vehicles decreased the most, falling by 9.6 percent compared to September last year. In Western Europe, registrations were down 12.0 percent.
Demand for new heavy commercial vehicles was stable (0.0% change) in Western Europe but decreased by 28.3 percent in the new EU Member States, resulting in an overall 4.8 percent decline.
In September, registrations in the mid-sized vehicle (between 3.5 tonne and 16 tonne) segment slipped by 0.8 percent in Western Europe and fell by 35.7 percent in the new Member States, resulting in a 6.9 percent overall contraction.
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Press release from ACEA