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Financial News: EU January Car Registrations At Record Low: ACEA

EU January Car Registrations At Record Low: ACEA

02/17/2021 - 07:09:00 (RTTNews)

(RTTNews) - European new car registrations hit a record low for January with a sharp fall in sales mainly due to the Covid-19 pandemic-related restrictions across the region. New car registrations slumped 24.0 percent year-on-year following a 3.3 percent fall in December, figures from the European Automobile Manufacturers Association/ACEA showed Wednesday. The number of units sold was 726,491, a record low for the month. The latest decline was the worst since a 52.3 percent fall in May, at the peak of the coronavirus pandemic. Many markets also had one business day less than in January 2020 and this negative calendar effect clearly also had an impact on registrations, the Brussels-based industry group said. Almost all 27 EU markets suffered double-digit losses in January. Among the big four, Spain logged the worst fall of 51.5 percent, followed by Germany with a 31.1 percent decline. Sales in Italy dropped 14.0 percent. France and Sweden were the only EU countries that did not post double-digit drops in January.

France registered a modest decline of 5.8 percent. In Sweden, registrations grew 22.5 percent in January.

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