European new car sales drop by 25.7% y/y in January
- Sweden was the only EU country where sales were positive, rising 22.5%, with low registration figures in January last year due to a vehicle tax increase behind the increase.
BERLIN: European car registrations dropped in January, industry data showed on Wednesday, as measures to restrict a second coronavirus wave hit sales in the region's largest markets.
New car registrations dropped by 25.7% year-on-year to 842,835 vehicles in the European Union, Britain and the countries of the European Free Trade Association (EFTA), figures from the European Automobile Manufacturers' Association (ACEA) showed.
All of Europe's five largest markets posted declines. Registrations in Spain registered the biggest drop of 51.5%. Sales in Germany, Britain and Italy fell by 31.1%, 39.5% and 14% respectively. France saw a smaller drop of 5.8% in the month.
Sweden was the only EU country where sales were positive, rising 22.5%, with low registration figures in January last year due to a vehicle tax increase behind the increase.
Sales at Volkswagen and Stellantis dropped by 28.1% and 27.4% respectively, while Renault reported a fall of 22.9%.
Luxury automakers also posted losses in January with sales at BMW falling 16.8% and rival Daimler reporting a 17.9% decline.
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