Europe's Car Sales Rise For First Time In 2020: ACEA

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Europe’s passenger car sales grew for the first time this year in September showing signs of recovery in the automobile sector, the European Automobile Manufacturers Association, or ACEA, reported Friday.

Car registrations across the European Union grew 3.1 percent on a yearly basis to 933,987 units in September.

The four major markets showed mixed results. Spain and France posted annual decreases of 13.5 percent and 3 percent, respectively. Meanwhile, registrations increased 9.5 percent in Italy and by 8.4 percent in Germany.

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During nine months ended September, demand for new cars contracted 28.8 percent from the same period last year. Nearly 7 million units were registered during the period.

Despite last month’s positive results, the impact of Covid-19 still weighs heavily on the cumulative performance of the EU car market, the ACEA said.

The material has been provided by InstaForex Company —

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