Source:ACEA
|  |
EU New Passenger Car registrations V shaped in summer months
20 JULY 2011
New PASSENGER CAR REGISTRATIONS in the European Union (EU 27) performed in a V shaped pattern in the summer months year-on-year, -2% in July to over 1 million new units and +7.7.% in August but under 800 000 new units, as major markets contracted substantially in July (France -5.7%, Italy -10.3%, Spain -4% and the UK -3.5%) squeezed by consumers lack of confidence due to Greece's second bail-out call and the Euro area‘s debt concerns along with global uncertainties over the US debt ceiling impasse.
With the exception of Germany where July new passenger car registrations climbed +9.9%, the Euro area's new registrations dipped -1.9% to 950 333 vehicles ( the previous month, Moody's, the Credit rating Agency, had put each Italy and Spain on review for a possible downgrade) as Belgium's -11.3% added to Ireland's -35.4% (the country‘s credit rating was downgraded to junk status by Moody‘s with a negative outlook), Greece's -13.9% (the country's rating was downgraded by Fitch the Credit Rating Agency) and Portugal's -29.7%.
By contrast, in Denmark and Finland, new registrations increased respectively +11.8% to 13 065 new cars and +17.6% to 8 600 new units while Sweden's new registrations decreased by 3.7%, to under 20 000 new vehicles.
East European member states July new registrations fell -3.6% to over 62 000 new units pushed down by Poland's -5.8%, the largest economy, along with Hungary and Romania, respectively -15.5% and -18.1% along with Slovenia's -8.2%. The Czech Republic's +6.4% to over 12 000 new units and Bulgaria, Estonia and Lithuania in positive territory but under 2 000 new units each leveled off a bigger decline.
EFTA countries - Iceland, Norway and Switzerland-- stagnated that same month to 37 455 new units registered despite Switzerland's +1.2% to 25 822 new vehicles as Norway's -2.8% totaled 11 189 new units. Iceland recorded an extra 444 new cars registered.
Seven months into the year, VW Group, GM, BMW, Daimler, Nissan, Hyundai, Kia, and Volvo Car Corp., and Mitsubishi posted positive increases and held on their market shares while PSA and Renault new registrations fell respectively
-7.5% and -11%. In August, and eight months into the year, their new registrations improved slightly, -6.9% and -10.4% while competitors including VW Group, Nissan, Hyundai, Kia and Mitsubishi gained additional customers.
August new registrations and year-on-year in Europe picked up as France, Italy, Spain and the UK auto markets rebounded and Germany's remained sustained +18.3% to 237 561 new units. The Union's demand for new cars overwhelmingly turned positive with the exception of Poland's -4.1%, eastern Europe largest economy, along with Slovenia's -1.1%. Consequently, new registrations in the EU 15 rose +7.8% to 693 741 vehicles and the EU 10 +5.9% to 59 968 units.
EFTA countries - Iceland, Norway and Switzerland-- recorded +10.1% new registrations as Switzerland's +9.1% to nearly 22 000 new cars was followed by Norway's +10.1% to 11 464 new units and Iceland's 299 new vehicles.
Sweden and Finland, new registrations stayed strong and rose respectively +8.9% above 24 000 new units and +16.4% to 10 019 new cars.
|
Subscribe Today
