In January 2020, the EU passenger car market contracted by 7.5% to 956,779 units, according to the latest figures by the European Automobile Manufacturers Association (ACEA).
Major taxation changes announced by some EU member states for 2020 pulled registrations forward into December 2019, explaining this January drop. Other contributing factors included weakening global economic conditions and uncertainty caused by the UK's departure from the European Union, ACEA says.
As a result, demand for new passenger cars in the four major EU markets fell during the first month of 2020. France posted the strongest decline (-13.4%), followed by Spain (-7.6%), Germany (-7.3%) and Italy (-5.9%).
ACEA's figures change after Brexit
As of 1 February 2020, the UK is no longer part of the European Union. This will have a major impact on the statistical press releases, publications and statistics published by the European Automobile Manufacturers’ Association (ACEA). Although the UK was still part of the EU in January 2020, ACEA has decided to base the entire 2020 cycle of press releases – including the month of January – on the new EU27 aggregate (excluding the United Kingdom). This will improve clarity in reporting data and will result in one full-year total for 2020 based on a single perimeter, ie the EU27 (please learn more here).
For more details, please visit Passenger car registrations: -7.5% in January 2020