It appears the problems affecting the auto industry are far from over after figures for new car registrations in the EU27 were revealed for October.
Registrations fell to 1,027,036 units – that’s a 16.6 per cent drop compared to October, 2009. Indeed across the 10months of the year so far, demand for new cars has fallen by 5.5 per cent.
All major markets fell in October by double digit figures – 18.5 per cent in France; 20 per cent in Germany; 22.2 per cent in the UK; 28.8 per cent in Italy; and 37.6 per cent in Spain. By contrast, October 2009 marked a 12.1 per cent increase compared to 2009 when figures were down 14.9 per cent compared to October, 2007.
Across the year so far, Ireland has enjoyed the biggest surge in demand, up 53.2 per cent, with the UK up 4.8 per cent and Spain up 9.4 per cent. By contrast, the largest drop has occurred in Bulgaria, down 35.6 per cent; while the likes of Germany (down 26.8 per cent), Italy (down 7.0 per cent) and France (down 1.4 per cent) have also suffered notable falls.
By contrast, across the Atlantic in the US, October sales of light duty vehicles were up 13.4 per cent compared to the previous year and from January-October US sales are up 10.6 per cent.
