Car manufacturing and consumer demand in the European union rebounded in the first months of this year when compared to very low levels of 2009.
The trend, however, slowed as the year progressed and the influence of short-term factors faded.
These figures have been publised in the latest ACEA Economic Report. The automobile industry's trade association (ACEA) publishes the Economic Report 3 times a year, giving added insight into market trends and motor vehicle production.
New passenger car manufacturing in the EU bounced back 34% 3 months into the 2010, when compared to 1st quarter of 2009. However, production was still 13% down when compared to the 1st quarter of 2008.
Germany remained the largest car manufacturing country in the EU by units produced, (1.4 million units, 33%), while the UK saw car production pick up most ( 72.7%) compared to the first quarter of 2009. Except for Finland (-59.5%), Belgium (-10.5%), the Netherlands (-7.5%) and Italy (-.1%), all countries posted growth.
In 2010, demand for new passenger cars in the EU continued to grow until a 7.4% decline was noted in April. In May, new registrations further decreased by 9.3%. The recent drops reflect both the end to the various government scrappage schemes as well as the continuing challenging economic situation in the EU.
From January to May, small cars (segments A and B) accounted for 44.6% of the total market for new cars compared to 45.3% in the same period of 2009. Half of all new cars registered had a diesel engine, compared to 46.3% over January - May last year.
Figures: ACEA
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