EU demand for passenger cars contracted 32% year on year in the first eight months of 2020, Acea said.
A tally of 6,123,852 new cars was registered across the European Union from January to August, almost 2.9m less in the same months of 2019.
July 2020 registrations declined 5.7%. Seven of the 27 member states posted growth in July, including France (+3.9%) and Spain (+1.1%). Outside the EU perimeter, the United Kingdom (+11.3%), Iceland (+44.5%) and Norway (+6.5%) also showed first signs of recovery.
August volume fell 18.9% though that was less dramatic than earlier in the year. With the exception of Cyprus (+14.1%), all countries in the region recorded losses compared to August 2019.
Of the four major EU markets, Italy performed best, with a slight drop of 0.4%, while the strongest declines were seen in Germany (20%) and France (19.8%).
In the first eight months of 2020, Spain saw the biggest decline (40.6%) so far this year, followed by Italy (38.9%), France (32.0%) and Germany (28.8%).
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData