Commercial Vehicle Sales in Europe Reached 3-Year Low in November image

According to data released by ACEA, new commercial vehicles registrations in Europe have dropped in November to the lowest level in 3 years.

According to the European Automobile Manufacturers’ Association last month the number of new commercial vehicles sales dropped 18.5% annually, much faster that the 9.4% drop seen in October. In November sales dropped for the 11th consecutive month, reaching the lowest level since November 2009.

Light commercial vehicle sales fell 19.5% last month and 9.7% in October, while new medium and heavy commercial vehicle sales dropped 15.3% from 5.3% in October. Sales of heavy commercial vehicles saw a decrease of 17% last month, from a fall of 5.4% in October, while buses and coaches sales increased 5.8%, making up for the loss registered last month.

During the first eleven months of the year the overall commercial vehicle sales dropped 14% compared with the same period last year. In October, although auto sales in Europe shrank at a slower pace compared to other months, almost all automakers reported double digit losses. In the EU, new car registrations in October fell 4.8% to 1 million vehicles according to industry group ACEA.