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Financial News: Europe New Car Registrations Rise Further: ACEA

Europe New Car Registrations Rise Further: ACEA

11/17/2022 - 02:34:00 (RTTNews)

(RTTNews) - Europe's new car registrations increased for the third straight month in October, published by the European Automobile Manufacturers' Association, or ACEA, showed on Thursday.

New passenger car registrations logged a double-digit annual growth of 12.2 percent in October, faster than September's 9.6 percent increase.

The number of vehicles registered across the EU region totaled 745,855 units in October compared to 664,861 units produced in the corresponding month last year.

However, this result remained nearly 290,000 units below the October 2019 pre-pandemic levels, the Brussels-based ACEA said.

Among the big-four economies, Germany showed the strongest increase in sales, by 16.8 percent, followed by Italy with a 14.6 percent surge. Sales in Spain also rose notably by 11.7 percent.

At the same time, the French market logged a comparatively modest rise of 5.5 percent.

During January to October, the passenger car market witnessed a negative trend in sales, falling 8.1 percent to 7.53 million units, as recent improvements were not enough to offset losses cumulated from January to July this year.

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