Demand for new cars in Europe declines for second month in a row in May

In May this year, demand for new cars in the European Union declined for the second straight month on year-on-year basis, regressing by 9.3 percent, reflecting the end to government support schemes on the one hand and the further challenging economic situation on the other, according to a report released on May 17 by the European Automobile Manufacturers' Association (ACEA).
 
Meanwhile, in the first five months of this year, new passenger car registrations rose by 1.9 percent, as compared to the corresponding period of the previous year, amounting to 5,943,096 units.
 
In May, 1,129,508 vehicles were registered in the European Union. While Germany registered the most cars, it also recorded the biggest decrease in registrations, down 35.1 percent, of all major markets, followed by Italy with a drop of 13.8 percent and France with a decrease of 11.5 percent. The UK (+13.5 percent) and Spain (+44.6 percent) increased registrations compared to the low levels observed last year. Slovakia saw its market shrink the most (-41.8 percent) while Ireland expanded the most (+70.6 percent).
 
In the January-May period of this year, new car registrations totaled 5,943,096 units. Of the most important markets, Germany was the only one which recorded a downturn (-27.7 percent). France (+7.2 percent), Italy (+7.9 percent), the UK (+22.0 percent) and Spain (+43.5 percent) all posted growth. The largest increase was noted in Portugal (+56.3 percent) while the steepest decline was seen in Romania (-49.0 percent).