EU Passenger Car Market Contracts 23.7% In 2020
Sumaira FH Published January 19, 2021 | 05:40 PM
ANKARA, (UrduPoint / Pakistan Point News - 19th Jan, 2021 ) :The EU passenger car market narrowed by 23.7% to 9.9 million units in 2020 due to the direct impact of the COVID-19 pandemic, a trade group revealed on Tuesday.
2020 posted highest yearly drop in car demand since record-keeping, with new car registrations falling by 3 million units compared to 2019, the European automobile Manufacturers' Association (ACEA) said.
All EU markets saw double-digit declines in the year, the ACEA noted. "Among the region's biggest car markets, Spain posted the sharpest drop [-32.3%], followed closely by Italy [-27.9%] and France [-25.5%], while full-year losses were significant but less pronounced in Germany [-19.1%]."
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