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European Union sees strong growth in car market

by ChemOrbis Editorial Team -
  • 15/09/2016 (16:10)
According to the European Union’s auto manufacturers’ association ACEA, the passenger car market saw strong growth in August. Car registrations were reported to be up 10% in August year over year at 819,126 units. This followed a decline of 1.4% in July, which had ended 34 months of consecutive increases.

The ACEA said in a statement, “this is an impressive performance, considering that August normally is one of the weakest months of the year in volume terms due to the summer holidays."

The strongest performance was in Italy, which was up 20.1%, followed by Spain, up 14.6% year over year. Germany saw growth of 8.3% while France was up 6.7% and the UK rose 3.3%.

Over the first eight months of 2016, new passenger car registrations increased by 8.1% in the EU, reaching 9,787,760 units.

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