28 September 2012 11:46 [Source: ICIS news]
LONDON (ICIS)--New registrations for commercial vehicles in the EU continued to decline in July and August, according to data from the European Automobile Manufacturers’ Association (ACEA) on Friday.
In July, demand for new commercial vehicles in the EU was at 135,344 units, down 5.1% year on year, following a downward trend which began in January.
“While the French (+0.7%) and British (+8.5%) markets expanded, Germany (-2.9%), Spain (-21.4%) and Italy (-28.4%) all recorded negative results,” the ACEA said.
Demand further declined in August, falling 12.4% year on year to 102,877 units, as downturn prevailed across the major markets. Demand fell 6.0% in Germany, 11.5% in the UK, 15.5% in France, 25.0% in Spain and 27.2% in Italy.
“From January to August, the EU recorded 1,131,238 new vehicles, or 10.3% less than in the same period a year earlier. Germany (-2.5%), the UK (-4.0%), France (-7.0%), Spain (-24.9%) and Italy (-35.3%) all saw their markets contract,” the ACEA added.
A wide variety of chemical markets depend on demand from the automotive industry.
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