19 March 2013 10:07 [Source: ICIS news]
LONDON (ICIS)--EU passenger car registrations fell sharply in February 2013, declining by 10.5% year on year, an industry body said on Tuesday.
According to data from the European Automobile Manufacturers’ Association (ACEA), 795,482 new passenger cars were registered in the region in February, down from 889,050 units registered in the same month in 2012.
The fall in February continues a downward, year-on-year trend which began in October 2011.
“In February, the UK was the only country to post growth (+7.9%). All other significant markets faced a downturn ranging from -9.8% in Spain to -10.5% in Germany, -12.1% in France and -17.4% in Italy,” the ACEA said.
From January to February, demand for new cars declined by 9.5%, amounting to 1,681,073 units.
"Two months into the year, Germany (-9.6%) and Spain (-9.7%) performed similarly, compared to the same period a year earlier. France (-13.5%) and Italy (-17.3%) recorded a double-digit downturn, while demand was sustained in the UK (+10.3%),” it added.
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections