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Financial News: European Jan-April New Car Registrations Up 24.4%

European Jan-April New Car Registrations Up 24.4%

05/19/2021 - 03:29:00 (RTTNews)

(RTTNews) - European new passenger car registrations rose sharply in the first four months of the year and there was a surge of over 200 percent in the month of April alone due to the low base comparison of comparison last year as sales were hurt by the coronavirus pandemic.

New car registrations rose 24.4 percent year-on-year in the January to April period to 3.4 million units, data from the European Automobile Manufacturers Association/ACEA showed Wednesday.

March and April sales provided substantial boost to the total for the four months, the Brussels-based ACEA said.

Among the big four markets, Italy and France logged the biggest gains, 68.4 percent and 51.0 percent, respectively.

Spain registered sales growth of 18.8 percent and Germany logged a gain of 7.8 percent.

In April, new car registrations jumped 218.6 percent in the European Union because of last year's low base of comparison due to coronavirus restrictions, ACEA said.

Sales rose for a second straight month. In March, sales grew 87.3 percent.

However, April's sales volume was almost 300,000 units lower than that recorded in April 2019.

Across the EU region, several markets posted double- or even triple-digit percentage gains in April.

Italy logged the biggest gain of 3,276.8%, among the major markets. That was followed by Spain with 1,787.9 percent, France with 568.8 percent and Germany with 90.0 percent.

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