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Financial News: Europe Passenger Car Sales Decline In August

Europe Passenger Car Sales Decline In August

09/16/2021 - 02:17:00 (RTTNews)

(RTTNews) - Europe's passenger car registrations declined in August and July after four months of accelerated growth, data from the European Automobile Manufacturers' Association, or ACEA, revealed on Thursday.

Passenger car sales decreased 19.1 percent year-on-year in August following a decline of 23.2 percent in July. Sales totaled 622,993 units in August.

For the second month in a row, the largest car markets posted double-digit declines. Sales in Spain posted the biggest fall of 28.9 percent. Italy's sales decreased 27.3 percent and Germany's sales fell 23.0 percent. France logged a decline of 15.0 percent.

Over the first eight months of 2021, sales volumes showed an increase of 11.2 percent, counting 6.8 million new passenger cars. Despite the weak performance of EU markets during the summer months, substantial gains earlier in the year kept cumulative growth in positive territory, data showed.

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