The car market in Europe shows weak positions despite October’s jump
The research reveals the European car market outlook. Source: uber.com
According to the ACEA research, in October 2019, the EU passenger car market grew by 8.7% to reach 1,177,746 units registered. It tends to be the highest October total on record since 2009. In comparison, during October 2018, registrations fell by 7.3% after the WLTP test came into effect.
Nearly all EU countries posted increases in October, except for Cyprus and the United Kingdom. 4 out of 5 major EU markets noted strong gains, Germany (+12.7%), France (+8.7%), Italy (+6.7%), and Spain (+6.3%), while car sales contracted in the UK (‐6.7%).
According to the data, from January to October, new-car registrations were down 0.7% compared to the first 10 months of 2018. Despite the demand increased across the EU in September and October, Germany (+3.4%) remained the only major European market to record growth so far in 2019. On the contrary, Spain (-6.3%) and the United Kingdom (-2.9%) saw the strongest declines 10 months into the year, while the Italian (-0.8%) and French (-0.3%) markets have almost recovered to 2018 volumes.
The GlobalData specialist said commented the issue:
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