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Financial News: Europe New Car Sales Continue To Fall In

Europe New Car Sales Continue To Fall In February: ACEA

03/17/2021 - 03:13:00 (RTTNews)

(RTTNews) - Europe's new car registrations logged another double-digit decline in February as the Covid-19 containment measures and uncertainty continue to weigh on demand, the European Automobile Manufacturers' Association, or ACEA, reported Wednesday.

New car registrations declined 19.3 percent year-on-year in February, but slower than the 24 percent decrease seen in January.

The number of vehicles registered across the EU region totaled 771,486 units, the lowest February level on record since 2013.

All four major EU markets recorded losses in February. Italy posted the smallest drop of 12.3 percent, while the other markets faced stronger declines.

Germany reported an annual decrease of 19.0 percent and France registered 20.9 percent fall. Spain's registrations were down 38.4 percent in February.

From January to February, total registrations of new cars in the European Union were 21.7 percent lower than during the same period in 2020.

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