New EU states record strong car registration surges in August

New EU states record strong car registration surges in August
By bne IntelliNews September 14, 2017

New passenger car registrations in the European Automobile Manufacturers Association’s (ACEA’s) new EU member states category saw strong year on year August surges in Lithuania (19.8%), Hungary (19.3%), Bulgaria (18.1%), Poland (17.8%), Romania (16.6%), Croatia (22%), Estonia (12.2%), Slovakia (11.2%) and Slovenia (11.0%).
Only Latvia (3.3%) and the Czech Republic (7.2%) failed to make the double digits during the eighth month when it came to putting new cars on the roads.

Registrations were driven by strengthening European economies and the availability of newly introduced models that made inroads with consumers such as SUVs and hatchbacks from France’s Renault and Peugeot. Analysts say car sales may well rise further later this year with carmakers offering incentives for trade-ins of older diesel models for vehicles meeting stricter pollution standards.

Across the 28-member EU as a whole (excluding Malta) in August, passenger car registrations increased by 5.6%, totalling 865,047 units, with a notable decline in the UK (-6.4%, following July’s 9.3% drop), ACEA added. The figure for the whole bloc compared to July’s 2.6% gain.

From January to August, demand for passenger cars maintained momentum throughout Europe with more than 10mn new vehicles registered across the EU, meaning registrations went up by 4.5% y/y. “The new EU member states performed particularly well (+14.3%), making a significant contribution to the region’s results,” ACEA said. 

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