Financial News: Europe New Car Registrations Growth Moderates In April

Europe New Car Registrations Growth Moderates In April

05/17/2023 - 03:02:00 (RTTNews)

(RTTNews) - Europe's new car registrations registered a double-digit growth in April but the pace of growth slowed from March, data published by the Brussels-based European Automobile Manufacturers' Association, or ACEA, showed Wednesday.

New car sales advanced 17.2 percent from the last year, following March's 28.8 percent expansion.

All the EU major markets registered robust growth in April, with Italy posting the biggest annual increase of 29.2 percent.

Sales in France and Germany rose 21.9 percent and 12.6 percent, respectively. At the same time, Spain reported an increase of 8.2 percent.

There was a significant upturn in the market share of battery electric cars in April. The share of battery electric cars increased to 11.8 percent from 9.1 percent. Most EU markets reported double- and triple-digit percentage gains.

Hybrids represented 24.8 percent of the EU new car market, while petrol cars continued to dominate with the largest share at 38.2 percent. Petrol car sales were up 17.3 percent, reaching 3.06 million units.

From January to April, the EU car market grew 17.8 percent to 3.5 million registered cars. However, sales were down 22.8 percent compared to the same period in 2019, highlighting the ongoing struggle in the car market.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

European Economic News Preview: Eurozone GDP Data Due (11 min(s), 12 sec(s) ago)
(RTTNews) - Revised quarterly national accounts data from the euro area is due on Thursday, headli ...Full Story»

Japan Overall Bank Lending Rises 3.4% On Year In May (51 min(s), 48 sec(s) ago)
(RTTNews) - Overall bank lending in Japan was up 3.4 percent on year in May, the Bank of Japan sai ...Full Story»

Japan GDP Climbs 0.7% On Quarter In Q1 (36 min(s), 48 sec(s) ago)
(RTTNews) - Japan's gross domestic product expanded a seasonally adjusted 0.7 percent on quart ...Full Story»

Japan GDP Data Due On Thursday (41 min(s), 48 sec(s) ago)
(RTTNews) - Japan will on Thursday release Q1 numbers for gross domestic product, highlighting a m ...Full Story»

Japan Leading Index At 5-Month High (06 min(s), 48 sec(s) ago)
(RTTNews) - Japan's leading index strengthened in April to reach its highest level in five-mon ...Full Story»

Brazil's Inflation Eases To 3.94%, Lowest In 31 Months (58 min(s), 48 sec(s) ago)
(RTTNews) - Brazil's consumer price inflation eased further in May to reach its lowest level i ...Full Story»

Bank Of Canada Resumes Raising Interest Rates (55 min(s), 48 sec(s) ago)
(RTTNews) - After leaving interest rates unchanged for two straight meetings, the Bank of Canada o ...Full Story»

Estonia Inflation At 16-month Low (48 min(s), 48 sec(s) ago)
(RTTNews) - Estonia's consumer price inflation eased for the fourth straight month in May to t ...Full Story»