ERJ staff report (DS)
Brussels - The EU market for new passenger cars continued to shrink in October. On the bright side, the pace of decline slackened, according to data from ACEA the European federation of vehicle makers. October registrations totaled 959,412 cars, or 4.8 percent less than in October last year. From January to October, new car registrations amounted to 10,327,276 units, or 7.3 percent less in than in the first ten months of 2011.
Results in October were diverse across countries, leading to an overall 4.8 percent downturn in the EU. While the German market remained quite stable (+0.5 percent), the UK expanded by 12.1 percent. France (-7.8 percent), Italy (-12.4 percent) and Spain (-21.7 percent) performed worse than in the same month a year ago.
From January to October, the UK was the only major market to post growth (+5.0 percent). The German (-1.6 percent) slightly contracted, while Spain (-11.9 percent), France (-13.3 percent) and Italy (-19.7 percent) faced a double-digit downturn. Overall, new car registrations were down 7.3 percent ten months into the year, compared to the same period a year earlier.
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Press release from ACEA