There’s no glimmer of hope for troubled European economies in
today’s passenger car registrations figures, which report a 2.8%
drop in the EU in June, compared to June 2011, continuing a
downward trend that began last October.
A total of 1,201,578 new cars were registered during the month,
according to the Association des Constructeurs Européens
d’Automobiles.
And demand for new cars for the first half of the year also fell
compared to H1 2011, to 6,644,829 units, a drop of 6.8%.
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Germany (+2.9%) and the UK (+3.5%) posted growth, while Spain
(-12.1%) and Italy (-24.4%) contracted. The French market remained
stable at -0.6%.
In the first six months of the year, the two largest EU markets
–
the UK (+2.7%) and Germany (+0.7%) – performed better than in
the first six months of 2011. However, downturn prevailed in Italy
(-19.7%), France (-14.4%) and Spain (-8.2%), backing up
reports yesterday from Ford and Volkwagen, which both revealed
a drop in European sales.
The most alarming H1 declines compared to H1 2011 were Portugal
(-41.9%) and Greece (-41.3%), by substantial margins.
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