• EU Feb New Car Registrations Up 0.9% On Year – ACEA

According to European Automobile Manufacturers association, in February, demand for new cars slightly increased (+0.9%) in the EU, with a majority of markets expanding.

A total of 981,429 new cars were registered last month across the European Union, according to the same source. In Europe’s two biggest markets, German new car sales rose 15.2 percent to 224,426 and France gained 13.2 percent to 204,400 in February.

From January to February, demand for new cars in the EU* remained level (-0.3%) compared to the first two months of last year. A majority of markets performed better that in the same period a year ago though three of the five largest faced a double-digit downturn.

The UK shrank by 10.2%, Italy by 20.5% and Spain by 25.8%. Poland (-4.2%), Portugal (-11.0%) and Greece (-58.5%) also saw their markets contract. Elsewhere, growth ranged from 1.9% in Luxembourg to 114.5% in Estonia.

Sales by the VW group rose 9.1 percent, while Detroit-based GM sold 8.3 percent more cars. Fiat SpA (F), Ford Motor Co. (F) and PSA Peugeot Citroen all lost sales compared with the same month in 2010, according to the statement. PSA Peugeot Citroen saw a 5 percent decline in group sales, while Renault sales rose 2.8 percent. Group sales at Italy’s Fiat fell 16.9 percent across the region.
Still, the nations, which have been at the centre of Europe’s debt crisis reported, steep falls.


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