September marked the first month in 2020 when monthly passenger car registrations rose in the European Union, the European Automobile Manufacturing Association (ACEA). New car registrations rose by 3.1pc compared to Sept 2019 to 933,987 units.

 

Results were mixed for four leading manufacturers in the EU amid irregularities of demand and supply. The impact of the pandemic, however, is yet to subside. Registrations in Italy grew by 9.5pc followed by 8.4pc in Germany. Spain and France registered a decline of 13.5pc and 3pc, respectively.

 

In the January-September period, demand for cars contracted sharply by 28.8pc, according to the data released. A decline in car demand also impacted finished flat steel producers’ sales and profit margins in the period. Sales stood at  7.1mn vehicles, 2.9mn lower than the prior-year period.

 

In the nine months, registration in Spain fell by 38.3pc, Italy by 34.2pc, France 28.9pc, and Germany by 25.5pc.

 

EU witnessed the steepest monthly decline of 76pc in April when the COVID-19 pandemic was at its peak across the globe.

 

Leave a Reply

Your email address will not be published.