ACEA: car sales down by 19.3 percent y/y

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Sales of new passenger cars in the European Union fell significantly in February due to ongoing lock-down measures to curb coronavirus in many European countries. According to industry association ACEA, sales fell by 19.3 percent compared to a year earlier, to a total of 771,486 cars.

According to ACEA, this is the lowest sales for the month of February since 2013. Sales decreased in all EU countries except Sweden. Of the major European car markets, Spain performed the worst, with a minus of more than 38%. In Germany, sales fell by 19 percent and in France, sales fell by almost 21 percent. Italy limited the damage to a minus of more than 12%.

In the Netherlands, sales of new passenger cars fell by more than 26 percent to 21,862 cars last month, according to ACEA.

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Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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