New car registrations in Europe fall for sixth consecutive month

15 October 2010 12:45  [Source: ICIS news]

LONDON (ICIS)--New registrations for passenger vehicles in the 27-member EU fell for the sixth consecutive month in September, down by 9.6% compared with the same month last year as demand for new cars continued to deteriorate throughout 2010, an industry body said on Friday.

According to data from the European Automobiles Manufacturers’ Association (ACEA), a total of 1,227,645 new passenger vehicles were registered in September, following a 12.9% year-on-year decrease in August.

Over the first three quarters of 2010, registrations were 4.3% lower compared to the same period of 2009, totalling 10,251,140 vehicles, the ACEA added.

New car registrations began to slow down in April, when there was a 7.4% decline compared with April 2009. This was then followed by a 9.3% drop in May, a 6.9% fall in June, and an 18.6% slump in July, as various government incentive schemes to support fleet renewal ended.

The ACEA said that in September all the major markets contracted.

France (-8.2%), the UK (-8.9%), Germany (-17.8%), Italy (-18.9%) and Spain (-27.3%), all witnessed significant decreases in new car registrations.

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.

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

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