|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Thursday 17th of June 2010
June 15, 2010    

European car sales fall in May

Bookmark and Share

by Kay Murchie
European car sales fall in May

The European Automobile Manufacturers Association (ACEA) has today revealed registrations of new cars in Europe fell in May on year.

According to ACEA, 1.12 million cars were registered, a fall of 9.3% on last year’s levels.

European car sales also slumped in April, by 7.4% on year, but a decline has been expected after incentive schemes to boost the ailing car industry have expired.

Germany, whose scrappage scheme ended last September, saw the largest year-on-year fall in registrations, with a 35.1% drop.

However, Spain experienced a surge in sales of 44.6%, albeit from depressed levels last year.

Other major European car markets also saw sharp falls with sales down in Italy and France by 13.8% and 11.5% respectively.

In a statement, ACEA said: “Demand for new cars in the EU declined for the second month this year in May, reflecting the end to government support schemes on the one hand and the further challenging economic situation on the other.” it said.

Discuss this in the Finance Markets forums

Story link: European car sales fall in May




Related financial stories to: European car sales fall in May:
Previous: «
Next: »

Visited 291 times, 3 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , , consecutive month, , , , , , , ,