EU car registrations fall sharply

ERJ staff report (DS)

Brussels -- car registrations in the EU have fallen sharply, according to data from ACEA, the European federation of car makers. New car registrations have now decreased for six consecutive months, most notably since the summer.

Demand for new passenger cars in Europe fell by 14.5 percent in October, compared with the same month a year ago. This follows declines of 8.2 percent, and 15.7 percent in September and August respectively. Altogether, demand has fallen by 5.4 percent in the first nine months of the year, compared to the same period in 2007.

Markets in Western Europe registered 1,034,955 new cars in October, or 15.5 percent less compared to last year. With the exception of Austria (+4.0 percent), all markets contracted. The Irish and the Spanish markets continued their sharply downward trend, plummeting -54.6 percent and -40.0 percent respectively in October, and down -18.2 percent and -23.8 percent over the first ten months of the year.

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Press release from ACEA