European new car registrations continue to fall in June

15 July 2010 11:32  [Source: ICIS news]

LONDON (ICIS news)--New registrations for passenger vehicles in the 27-member EU dropped for the third consecutive month with a 6.9% year-on-year fall in June, an industry body said on Thursday.

According to data from the European Automobiles Manufacturers’ Association (ACEA), a total of 1,341,092 new passenger vehicles were registered in June, following a 9.3% year-on-year decrease in May, as various government incentive schemes implemented to support fleet renewal ended.

In June, the main markets which recorded lower registrations were Germany (-32.3%), Italy (-19.1%) and France (-1.3%), while the UK (+10.8%) and Spain (+25.6%) recorded a rise in numbers.

The largest drop was witnessed in Slovakia (-40.6%), while the biggest increase occurred in Ireland (+75.8%), the ACEA said.

Over the first six months of 2010, EU registrations levelled out, with a slight increase of 0.2% to 7,285,487 new units, compared with the same period last year. However compared with the first six months of 2008, the market had decreased by 10.3%, according to the ACEA.

A wide variety of chemicals markets depend on demand from the automotive industry, which has suffered badly from the effects of the global economic crisis.

($1 = €0.79)

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By: Franco Capaldo
+44 (0)20 8652 3214

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