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Financial News: Europe's Car Sales Log Record Decline In April:

Europe's Car Sales Log Record Decline In April: ACEA

05/19/2020 - 04:43:00 (RTTNews)

(RTTNews) - Europe's car registrations declined at the strongest pace since records began in April amid coronavirus, or Covid-19, pandemic, the European Automobile Manufacturers Association, or ACEA, reported Tuesday.

Passenger car sales plunged 76.3 percent year-on-year in April, following a 55.1 percent fall in March.

In the first full month of Covid-19 restriction, car demand posted its biggest fall on record.

Among the four major markets, demand in Spain and Italy declined 97.6 percent and 96.5 percent, respectively. Demand in France dropped 88.8 percent. Sales in Germany declined 61.1 percent.

During January to April period, demand for new cars in the European Union decreased by 38.5 percent.

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