EU passenger car market continues to narrow in February

The EU passenger car market narrowed 19.3% in February compared to the same month of last year, driven by coronavirus containment measures and uncertainty pressure on demand, an industry group said on Wednesday.

The number of new automobile registrations across the 27-member bloc stood at 771,486, hitting the lowest February total on record since 2013, the European Automobile Manufacturers’ Association (ACEA) reported.

All four major EU markets recorded losses last month, with Italy posting the smallest drop –12.3%– while Germany (19.0%), France (20.9%), and Spain (38.4%) facing stronger declines.

Sweden and Ireland were the only countries posting rises during the same period.

The EU is the main automotive export market for Turkey, where top international automakers — Ford, Honda, Hyundai, Mercedes, Renault, and Toyota, among others — are operating.

In January-February, the EU passenger car market shrank 21.7% year-on-year to 1.5 million.