ACEA: European vehicle sales (EU+EFTA) rise 4 pct in February

Hannah Rogers | 25 March, 2018, 04:14

Europe's new vehicle registrations grew at a slower pace in February, the European Automobile Manufacturers' Association reported Thursday. United Kingdom demand was down (-5.1%).

In volume terms, last month saw the best February results since 2008. Registrations were down 2.8%.

European vehicle sales edged up in February, helped by strong gains for French brand Peugeot (Paris: FR0000121501 - news), solid demand in Germany and France, and double-digit increases in Spain and the Netherlands, industry data showed.

Passenger vehicle market grew 4.3% year-on-year in February, slower than the 7.1% increase registered in January.

The PSA Group - Peugeot, Citroen, and Opel - and the Renault Group followed with 17.2 percent and 10.7 percent of vehicle sales, respectively.

In Latvia, new auto registrations in February grew 6.5 percent to 1,254 and registrations in the first two months of the year were up 6.1 percent at 2,783.

Last year, almost 80 percent of Turkey's total automotive exports went to European Union countries, a worth of $22 billion marking a 17 percent rise, year-on-year.

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ACEA: European vehicle sales (EU+EFTA) rise 4 pct in February

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