Economic Buzz: Europe Passenger Car Sales Grow 9.6% In September

18 Oct 2022 , 03:24 PM

Europes new car registrations increased for the second straight month in September, data published by the European Automobile Manufacturers Association, or ACEA, showed. New passenger car registrations grew 9.6 percent on a yearly basis, following Augusts 4.4 percent increase. However, the ACEA said this annual growth was largely driven by the low base of comparison from September 2021, when the semiconductor shortage hampered vehicle production. Among big-four economies, Germany and Spain posted double-digit growth of 14.1 percent and 12.7 percent, respectively. At the same time, sales in France gained moderately by 5.5 percent and that in Italy by 5.4 percent. During January to September, the passenger car market shrank 9.9 percent to 6.78 million units, despite the positive results recorded in the last two months.Powered by Commodity Insights