European Car Volumes Near Pre-Recession Levels
Passenger car registrations across the EU approached pre-financial crash levels, having increased 7.6 percent in May to about 1.39 million units, the European Automobile Manufacturers Association (ACEA) said.
In volume terms, the result comes close to May 2007 levels, just before the economic crisis hit the automotive industry, the Brussels-based association said.
Gains were noted in all main markets last month, except for the United Kingdom, according to the ACEA.
The highest percentage gains were noted in Germany (+12.9 percent) and Spain (+11.2 percent), followed by France (+8.9 percent) and Italy (+8.2 percent). The United Kingdom market, on the other hand, saw an 8.5 percent decline in car registrations.
From January to May 2017, demand for passenger cars grew 5.3 percent across the EU, with 6,719,209 units registered in total, ACEA added.
Growth was noted in Italy (+8.1 percent), Spain (+7.3 percent), Germany (+4.7 percent) and France (+3.3 percent) over the first five months of the year, while the UK decline by 0.6 percent.
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