Dow Jones Newswires: European Union new car sales returned to growth in August

by | Sep 16, 2022 | Stock Market

Passenger-car registrations across the European Union rose on year in August, marking the market’s return to growth after posting declines during 13 consecutive months, the European Automobile Manufacturers Association, or ACEA, said. New-car registrations–a reflection of sales–increased 4.4% on year to 650,305 vehicles in August, the ACEA said Friday. However, registrations for new passenger cars in the January-August period stood at about six million, down 12% on year as earlier declines weigh on the overall performance.

In July, car registrations fell by about 10% to 738,238 units in spite of an already low base of comparison caused by the semiconductor shortage, the ACEA said. All of the region’s major markets contributed positively to the rise, with Italy and Spain recording on-year growth of 9.9% and 9.1%, respectively. Registrations rose 3.8% in France and increased 3% in Germany. Write to Giulia Petroni at giulia.petroni@wsj.com

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