The European car market has had the worst start of the year since 2013, according to Wednesday Numbers of the European trade association ACEA. More than a million cars were sold in February. With that, 7.2 percent fewer cars were registered than in the same month last year.
The car industry has been in the corner for a long time. With the exception of December 2019, car sales declined further due to the trade war, Brexit, but also new emission rules and taxes. It was also hit in January, when sales fell by 7.4 percent.
ACEA cites a weakening global economy, higher vehicle taxes and the coronavirus outbreak as causes for the falling demand for new cars in February.
Car sales in Germany were hit hardest with a decrease of almost 11 percent. In Italy, car sales were 8.8 percent lower, while in Spain and France, sales fell by 6 and 2.7 percent, respectively.
The only car brand that managed to sell more cars was BMW. German automakers Volkswagen and Daimler sold 4.4 and 11.9 percent fewer cars, respectively. French car manufacturers Renault and PSA saw their sales decrease by 14.3 and 8.5 percent.
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