| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 European
 International
 
 Analysis/Comment

RSS FEED


How to use our RSS feed

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

We provide access to live business television and business related videos from: Bloomberg TV; The Wall Street Journal; CNBC and the Financial Times. Click image:

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax 2008

Climate Change Reports

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : European Last Updated: Jul 16, 2009 - 9:25:32 AM


New cars sales rose in Europe in June supported by scrappage subsidy schemes; Irish sales fell 39%; Germany up 40%; Spain and UK down 16%
By Finfacts Team
Jul 15, 2009 - 7:26:19 AM

Email this article
 Printer friendly page

The market for new passenger cars in Europe rose in June (+2.4 %) or 1,461,859 units, boosted by carried by the impact of scrappage subsidy schemes in more than 10 EU Member States. It is the first market increase in 14 months, against the backdrop of a steep downward trend that commenced in May 2008. Irish sales fell 39%; Germany was at +40%; Spain and UK -16%.

ACEA, the European Automobile Manufacturers Association, said in June last year, the market was down 7.9% compared to 2007. June 2009, 2008 and 2007 all had a similar number of working days. Accumulative figures for the first half of 2009 show an 11% drop in European new car registrations compared to the same period in 2008, with a total of 7,425,762 new cars registered compared to 8,346,828 the year before.

New registrations in Western Europe rose by 4.6% in June, totaling 1,382,189 units. Countries with an incentive scheme mostly posted growth, with particularly strong demand in Germany (+40.5%), which is the largest market in Europe. Italy (+12.4%), France (+7.0%) and Austria (+4.0%) saw registrations increase as well, while the downturn in Spain (-15.9%) and the UK (-15.7%) was cushioned by more recently introduced support measures.

Irish sales were at (-38.8%) and in the year to June, (-62.3%).

In the first six months, only Germany (+26.1%) and France (+0.2%) performed better than in 2008. Overall, the West European market declined by 9.8%. Italy (-10.7%), the UK (-25.9%) and Spain (-38.3%) all recorded a double-digit decrease.

In the new EU Member States, new car registrations fell by 25.3% in June, with only the Czech Republic (+18.0%) and Slovakia (+57.4%) posting growth. The sharpest downturn was recorded by Latvia (-72.6%). In absolute figures, Poland remained the largest market despite a 2.5% decline. Six months into the year, Slovakia (+18.4%), the Czech Republic (+7.9%) and Poland (+0.2%) saw their markets expand while the overall market in the region decreased by -27.1%.

Tables

Related Articles


© Copyright 2009 by Finfacts.com

Top of Page

European
Latest Headlines
German merchandise exports fell 18.4% in 2009; Year marked biggest drop in trade since 1950 - - China becoming the world's top exporter; Exports up 3% in December
Competitiveness of Eurozone economies: Long tradition of tensions
European Central Bank keeps benchmark rate on hold at 1%; Trichet to address press conference; Bank of England holds rate at 0.5% - - lowest since 1694
European Central Bank and Bank of England expected to leave interest rates at historic lows
Euro's role as a reserve currency is growing
European Commission accepts Greece's rescue plan but warns further spending cuts and new taxes might be needed
Eurozone retail sales volume flat in December -- down 1.6% in 2009
Growth of Eurozone service sector moderated at start of 2010; Ireland was the weakest performer overall
Eurozone industrial producer price index fell 0.1% in December - - down 2.9% in 2009; German retail sales rose in December
Eurozone PMI at two-year high in January; France and Germany leading the recovery but Spain, Ireland and Greece fall further behind
Eurozone unemployment rose to 10% in December 2009; Ireland's rate was at 13.3%; Netheralnds at 4.0% and Spain at 19.5%
Eurozone confidence surveys point to continued optimism in January
Eurozone savings rate falls to 15.8% in Q3 2009 compared with 4.5% in US and 2.0% in Japan
German government revises up forecast of 2010 economic growth to 1.4%; Deutsche Bank says growth of over 2% is likely
UK economy exited recession in the fourth quarterly of 2009 but quarterly growth rate of 0.1% was very weak
German business confidence rose to an 18-month high in January
German consumer climate marks a cautious start to the New Year
Eurozone recovery continues in January but output growth slows
French and German governments raise their economic growth forecasts for 2010
UK recovery reliant on a roaring trade with the tiger economies; Decade of painful readjustment to follow decade of debt