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Financial News: Europe's New Car Registrations Rise In August

Europe's New Car Registrations Rise In August

09/14/2017 - 02:20:00 (RTTNews)

(RTTNews) - Europe's new car registrations increased at a faster pace in August, data published by the European Automobile Manufacturers' Association showed Thursday.

Passenger car sales grew 5.6 percent year-on-year to 865,047 units in August. The pace of growth accelerated from July's 2.7 percent increase.

In volume terms, August figures topped those of August 2008, marking the European market's best performance in a decade, ACEA said.

Among five big markets, sales in Italy and Spain posted double-digit growth of 15.8 percent and 13 percent, respectively. Sales in France and Germany climbed 9.4 percent and 3.5 percent, respectively.

Meanwhile, demand for cars declined by 6.4 percent in the United Kingdom.

During January to August, demand for passenger cars maintained momentum throughout Europe. With more than 10 million new vehicles registered across the EU, registrations advanced 4.5 percent compared to the same period of 2016.

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