Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

European passenger car registrations rose 14.4% in September: ACEA

Published 10/16/2019, 02:05 AM
Updated 10/16/2019, 02:11 AM
© Reuters.  European passenger car registrations rose 14.4% in September: ACEA

MILAN (Reuters) - European car registrations rose 14.4% in September as the market recovered from the previous month's slump, led by robust gains at major brands Volkswagen (DE:VOWG_p) and Renault (PA:RENA), industry data published on Wednesday showed.

The year-on-year increase was largely due to the low sales volumes recorded in September 2018, when registrations fell "significantly" following the introduction of WLTP emission standards, European car industry association ACEA said.

WLTP standards measure the level of pollutants, CO2 emissions and fuel consumption for passenger cars.

Registrations rose to 1.29 million cars last month from 1.12 million a year earlier across the European Union and European Free Trade Association (EFTA) countries, the Brussels-based association said in a statement.

In August, registration had dropped 8.6% year on year.

Four of the five major European markets posted a double-digit registration growth last month, with Germany outpacing France, Spain and Italy, with a 22.2% gain, ACEA figure showed.

Registrations in Britain rose by a modest 1.3%, as "Brexit-related uncertainties continued to affect consumer confidence," ACEA added.

Last month, Volkswagen saw sales of its core brand rise 58.2% and Renault brand sales rose by 30.3%. FCA's Alfa Romeo (MI:FCHA) registrations rose 25.9% year on year.

Japan's Nissan (T:7201) was one of the biggest losers among major brands, with a 7.0% decline in sales.

Among premium auto brands, Audi (DE:NSUG) sales rose 38.8%, topping competitors such as Mercedes-Benz (DE:DAIGn) and Volvo, which saw their registrations rise 9.9% and 9.3%, respectively. BMW (DE:BMW) registrations dropped 6.6%, ACEA said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.