European New Car Sales Fell 8% in 2008
Western European new car registrations fell 8 per cent in 2008, while the monthly figure for December plummeted 19 per cent. According to the European car makers’ association, ACEA, this is the sharpest annual fall since 1993. However, according to market analysts, the fact that there were two extra selling days in 2008 means that when 2007 and 2008 are compared like-with-like the results are actually worse than those published.
The UK market was one of the three worst affected in Western Europe, with registrations falling 21 per cent year-on-year and 11 per cent year-to date. The Spain was the only market worse affected than the UK. According to the ACEA figures, Spanish new car registration were 50 per cent down year-on-year and 28 per cent down year-to-date.