Source:ACEA

29 JUNE 2011
 
New PASSENGER CAR REGISTRATIONS in the European Union (EU 27) rescinded -8.1% in June year-on-year to 1 233 298 million units since major markets turned negative: France's new registrations fell -12.6% following the previous month surge to 210 972 new units followed by Germany's -0.3% to 288 382 new vehicles. In Italy, new registrations fell -1.7% to 168 832 new units following the previous month positive figure, an exception, in over a year. 
The UK‘s austerity measures and the upcoming loss of nearly 500 000 public servant jobs in addition to the introduction of university fees, up to GBP 5000 a year per student, led households to hold onto their finances and push down registrations by -6.2% to 183 125 new units. Spain‘s austerity measures, and chronic under employment among young adults the « indignados » or the outrage movement, in addition to financial uncertainties over Spain's public debt caused equal market contraction as registrations dived - 31.4% to 83 385 new cars.

Renewed concerns over Greece's need for a second bail-out forced households throughout western Europe to remain prudent. Markets fell in Austria, Belgium, the Netherlands, Luxembourg, Finland, and Sweden.

New registrations plunged -34.1% in Portugal following the country‘s official request in May for € 78 billion financial assistance. Greece's car market performed equally, -34.1%, as a second financial package appeared compulsory to avoid the country‘s debt default. Ireland remained an exception with new registrations up +31.3% to 11 030 units since the International Monetary Fund's (IMF) positive review in May about the country's November 2010 debt reduction program following bail-out and bond issues oversubscribed by investors worldwide lifted households confidence.

EFTA countries recorded -10% new registrations as Iceland's +2.7% to over 1000 new units failed to offset Switzerland's -11.5% and Norway's -6.9%, their first respective declines, to over 38 000 new units. 

Eastern Europe fared equally to western Europe leaving new registrations to decline -6.1% to 70 981 new units as major countries markets overwhelmingly turned negative: in Poland, the leading economy, new registrations decreased by -9% to 24 776 new vehicles  followed by the Czech Republic -12.8% to over 16 000 new vehicles and Romania‘s -16.3% to 8 606. Slovakia's new registrations rose +2.3% to  6298 and Slovenia's +1.9% to 5769

France's PSA Group new registrations dropped -11.9% to 162 316 new registrations while Renault's dived twofold to 116 806 new units.

Six months into the year, new registrations consequently dropped -2.1% to 7 120 499 million in the Union impacted downwards by western Europe -2.3% to 6 744 212 million since France and Germany reported positive figures, respectively +1% and +10.5%, unlike the UK, a -7.1% decline, Spain‘s -26.8% and Italy's -13.1%. Eastern Europe's new registrations rose +1.5% to under 380 000 units and EFTA's +8.3% to 230 035 new registrations reflected Switzerland's and Norway's previous positive momentum.    
 
On the same period, and per manufacturer, the top ten list only counted seven positive performers: VW Group's new registrations rose +5.7% to over 1.6 million units, due to the German's market constant increases since January. GM Group's new registrations grew +1.7% to 628 647 followed by BMW's +10.8% to 410 112 and Daimler +1.7% to 337 389, Nissan +16.3% to 239 096 and Hyundai +8.1% to 200 499 Volvo Car Corp. +12.8% to  127 862 and Mitsubishi +28.1% to 57 742. PSA Group's new registrations dipped -7.1% to 938 589 new units while market share inched down to 13.2% (from 13.9%). Renault Group's new registrations fell -10.8% to 688 122 but market penetration fell nearly one percentage point to 9.7%. VW Group recorded the biggest market share gain, over one and half percentage point to 22.7%.