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European vehicle market grows following 2-month decline
(MENAFN) The European passenger vehicle market revived in the previous month, marking a return to development following two months of slump, with Spain and Germany leading the recovery, an industry group report revealed on Thursday.
New passenger vehicle registrations in the EU increased 1.1 percent annually to 866,397 points in the previous month, the European Automobile Manufacturers’ Association (ACEA) stated.
Spain drove the recovery with a robust 7.2 percent climb, while Germany recorded a 6 percent surge, rebounding strongly following three months of contraction.
Nonetheless, the picture was not uniform through the four major EU markets. Both France and Italy posted major drops, with decreases of 11.1 percent and 9.1 percent, respectively, emphasizing the current issues in such markets.
The battery-electric vehicle market share for last month was steady at 14.4 percent, with registrations hitting 124,907 points, a surge of 2.4 percent from the previous year.
During the first 10 months of the year, new vehicle registrations in the 27-member bloc rose faintly by 0.7 percent, hitting 8.9 million points.
Spain and Italy recorded modest increase, with surges of 4.9 percent and 0.9 percent, respectively, whereas France and Germany recorded decreases of 2.7 percent and 0.4 percent, respectively.
New passenger vehicle registrations in the EU increased 1.1 percent annually to 866,397 points in the previous month, the European Automobile Manufacturers’ Association (ACEA) stated.
Spain drove the recovery with a robust 7.2 percent climb, while Germany recorded a 6 percent surge, rebounding strongly following three months of contraction.
Nonetheless, the picture was not uniform through the four major EU markets. Both France and Italy posted major drops, with decreases of 11.1 percent and 9.1 percent, respectively, emphasizing the current issues in such markets.
The battery-electric vehicle market share for last month was steady at 14.4 percent, with registrations hitting 124,907 points, a surge of 2.4 percent from the previous year.
During the first 10 months of the year, new vehicle registrations in the 27-member bloc rose faintly by 0.7 percent, hitting 8.9 million points.
Spain and Italy recorded modest increase, with surges of 4.9 percent and 0.9 percent, respectively, whereas France and Germany recorded decreases of 2.7 percent and 0.4 percent, respectively.
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