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.
Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.