EU’s passenger car registrations up 10% in January

Jonathan Lopez

16-Feb-2017

ZURICH (ICIS)–The EU’s passenger cars market started the year with an increase in January of 10.2% year on year, the European Automobile Manufacturers Association (ACEA) said on Thursday.

A total of 1,170,220 passenger cars were registered across the EU in January, ACEA said, although the data did not include Malta.

The trade group said one of the reasons for the healthy increase was found, said ACEA, in the month of January having extra working days, compared to the same month in 2016.

“Among the major markets, Spain (10.7%), France (10.6%), Germany (10.5%) and Italy (10.1%) recorded very strong performances in January, all posting double-digit percentage gains,” said ACEA.

“The UK passenger car market also grew during the first month of 2017, although at more modest rate (2.9%).”

The five countries represent around 80% of total car registrations within the 28-country union.

Passenger car registrations, January 2017
EU passenger car registrations january 2017.
Source: ACEA 

The automotive industry is a major global consumer of petrochemicals which contributes more than a third of the raw material costs of an average vehicle. ICIS tracks the movement of petrochemical raw material costs in auto production both globally and regionally with the weighted ICIS Basket of Automotive Petrochemicals (IBAP).

ICIS produces a monthly Global Automotive report covering the major automotive chemicals markets, the auto-industry, the IBAPs and macroeconomic trends. For more information on the report and details on how to subscribe, please click here

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