18 June 2013 10:23 [Source: ICIS news]
LONDON (ICIS)--EU passenger car registrations fell in May, ending a short-lived rise reported in April, an industry body said on Tuesday.
According to data from the European Automobile Manufacturers’ Association (ACEA), demand for new passenger cars in May declined by 5.9% year on year, reaching 1,042,742 units.
The ACEA said in absolute figures this is the lowest level recorded for the month of May since 1993, when new registrations stood below 1m.
The reported fall follows a 1.7% year-on-year increase for EU passenger car registrations in April 2013, which represented a rise for the first time since September 2011.
“In May, most major markets faced a downturn ranging from -2.6% in Spain to -8.0% in Italy, -9.9% in Germany and -10.4% in France,” the ACEA said.
“The UK was the only country to post growth (+11.0%). Overall, the EU registered 1,042,742 new cars – or 5.9% less than in the same period last year,” it added.
During the first five months into the year, new car registrations amounted to 5,070,840 units, down by 6.8% compared with the same period last year.
“From January to May, Spain and Germany saw their market shrink by 5.8% and 8.8% respectively, while Italy (-11.3%) and France (-11.9%) recorded a double-digit decline. The UK continued its positive trend, expanding,” 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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections