Brussels – The EU passenger car market contracted by 7.5% to 956,779 units in January, according to the latest figures published by the European Automobile Manufacturers' Association (ACEA).
The trade body linked the decline to “major taxation changes” announced by some EU member states for 2020 which “pulled registrations forward into December 2019.”
Other contributing factors included weakening global economic conditions and uncertainty caused by the UK's departure from the European Union, ACEA announced 18 Feb.
Demand for new passenger cars fell in the four major EU markets with France posting the strongest decline of 13.4%. Spain, Germany and Italy also registered decreases of 7.6%, 7.3% and 5.9% respectively.
Figures from the UK were not included in the ACEA report as the country left the EU at the end of January.
For year-on-year comparisons, the association said that historical data were recalculated to adjust to the new EU27 perimeter.