EU car registrations up 2.2% in February
Growth continued in the EU passenger car market in February, albeit at a slower rate than January.
Latest figures from the European Automobile Manufacturers Association (ACEA) show registrations last month rose 2.2% compared to February 2016, with a total of 1,078,503 units. This compares to growth of 10.2% in January. However, the association noted the figure for the total units came close to February 2008 levels, just before the economic crisis hit the automotive industry.
Among the major markets, only Italy (+6.2%) and Spain (+0.2%) saw demand increase while declines were recorded in France (-2.9%), Germany (-2.6%) and the UK (-0.3%), partially due to the fact that February 2017 had one working day less. In contrast, the new EU member states positively contributed to the results of the region with +15.9%.
For the first two months of the year, new passenger car registrations increased by 6.2%, totalling 2,248,040 units. Italy (+8.1%), Spain (+4.8%), Germany (+3.5%), France (+3.2%) and the United Kingdom (+1.8%) all saw growth.
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