(C) Reuters. The coronavirus disease (COVID-19) outbreak in Germany
BERLIN (Reuters) – European car registrations dropped in July and August but not as steeply as in previous months, industry data showed on Thursday, pointing to a slow recovery in Europe’s auto sector that was hit hard by the coronavirus crisis.
In July, new car registrations dropped by 3.7% year-on-year to 1,281,740 vehicles in the European Union, Britain and the European Free Trade Association (EFTA) countries, statistics from the European Automobile Manufacturers’ Association (ACEA) showed.
Sales fell by 17.6% in August to 884,394 vehicles, when all countries in the region, except Cyprus, recorded losses compared to the previous year. Registrations in Germany and France fell sharply while they edged down in Italy, the data showed.
That came after bigger declines in sales of 24.1% in June and 56.8% in May.
In the first eight months of the year, sales dropped by around a third as the coronavirus lockdown forced carmakers to close showrooms across Europe.
European new car sales fall by 17.6% year-on-year in August: ACEA
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.