16 January 2013 10:12 [Source: ICIS news]
LONDON (ICIS)--European passenger car registrations fell sharply in December 2012, declining 16.3% year on year, an industry body said on Wednesday.
According to data from the European Automobile Manufacturers’ Association (ACEA), 799,407 new passenger cars were registered in the region in December, down from 955,537 units registered in the same month in 2011.
The industry body said the decline is the steepest recorded in a month of December since 2008.
The fall in December continues a downward trend commenced 15 months ago, on a year on year basis, which began in October 2011.
“In December, most of the major markets recorded a double-digit downturn ranging from -14.6% in France to -16.4% in Germany, -22.5% in Italy and -23.0% in Spain. The UK was the only significant market to post growth (+3.7%). Overall, a total of 799,407 new cars were registered in the EU,” the ACEA said.
A wide variety of chemical markets depend on demand from the automotive industry, which has suffered badly from the effects of the global economic crisis.
For the whole of 2012, demand for new cars reached the lowest level recorded since 1995, totalling 12,053,904 units.
“From January to December, results were diverse across markets. While the UK expanded (+5.3%) and the German somewhat contained the decline (-2.9%), Spain (-13.4%), France (-13.9%) and Italy (-19.9%) faced a more severe downturn, leading to an 8.2% contraction [year on year] of the EU market,” the industry body added.
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