LONDON (ICIS)--EU registrations for new passenger cars rose 4.7% year on year to 1,004,935 units in October, according to sales data released by the European Automobile Manufacturers’ Association (ACEA) on Tuesday.
It is the first time since September 2011 that demand for new cars has been up in two consecutive months.
“In October, Italy was the only major market to face a downturn (-5.6%). All others contributed positively to the overall 4.7% expansion of the EU market, with growths ranging from +2.3% in Germany to +2.6% in France, +4.0% in the UK and +34.4% in Spain,” the ACEA said.
However, despite the rise, the results recorded were the second lowest level to date for October since 2003 when ACEA began recording EU new car registrations, it added.
For the January-October period, new car registrations were down 3.1% year on year to 10,006,807 units.
“From January to October, major markets performed diversely,” the ACEA said.
“Germany (-5.2%), France (-7.4%) and Italy (-8.0%) saw their demand for new cars decline, while Spain (+1.1%) and the UK (+10.2%) registered more vehicles than in the first 10 months of last year. Overall, the EU* counted 10,006,807 new vehicles, or 3.1% less than in January-October 2012,” it added.
A wide variety of chemical markets depend on demand from the automotive industry.
*ACEA’s October data does not include sales from Malta, which was unavailable.