European new car sales drop by 20% year-on-year in February: ACEA

European new car sales drop by 20% year-on-year in February: ACEA

News: European new car sales drop by 20% year-on-year in February: ACEA.

BERLIN (Reuters) – European car registrations fell in February, as industry data showed on Wednesday, as the coronavirus lockdown and the associated uncertainty across Europe weighed on sales.

New vehicle registrations fell year-on-year by 20.3% to 850,170 vehicles in the European Union, Great Britain and in the countries of the European Free Trade Association (EFTA), according to figures from the European Automobile Manufacturers’ Association (ACEA).

Most European markets saw declines. Registrations in Spain saw a 38% decrease. Sales in France and Germany decreased 21% and 19% respectively, while Italy saw a smaller decrease of 12% during the month.

Volkswagen and Stellantis sales were down 19% and 22%, respectively, while Renault saw a 29% decrease.

Luxury automakers also posted losses in February, with BMW sales down 13% and rival Daimler down 20%.

Europe’s automakers are anticipating sales in China, which has not reinstated a coronavirus lockdown, to boost sales in 2021 after a rebound in the industry’s largest market last year helped the industry recover faster.

Reporting from Riham Alkousaa; Adaptation by Caroline Copley

Original Source © Reuters

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