17 April 2013 09:55 [Source: ICIS news]
LONDON (ICIS)--EU passenger car registrations in March 2013 declined for the 18th consecutive month, falling by 10.2% year on year, an industry body said on Wednesday.
According to data from the European Automobile Manufacturers’ Association (ACEA), 1,307,107 new passenger cars were registered in the region in March, down from 1,454,907 units registered in the same month in 2012.
The fall in March continues a downward year-on-year trend which began in October 2011.
“In March, the UK remained a resilient market, posting a 5.9% growth, while Italy (-4.9%), Spain (-13.9%), France (-16.2%) and Germany (-17.1%) saw their demand decrease. Overall, the EU recorded a total of 1,307,107 new cars, or 10.2% less than in March 2012,” the ACEA said.
During the first quarter of the year, demand for new cars declined by 9.8%, amounting to 2,989,486 units.
"From January to March, except for the UK (+7.4%), all major markets faced a double-digit downturn ranging from -11.5% in Spain to -12.9% in Germany, -13.0% in Italy and -14.6% in France,” 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.
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