EU car sales dropped significantly in 2012, due to the ongoing debt crisis and the economic crisis, falling to the lowest level in 17 years.
Newly registered vehicles in 2012 were 12,053,904 units in 2012, down 8.2% over 2011. It’s the lowest level since 1995. The decline is also the sharpest decline since the 1993 economic crisis time and European car sales year-on-year decrease was nearly 17%.
The European car market crisis has intensified, and yet the turnaround is far away. It is reported that the European car market sales in December 2012 fell by 16.3%, which was absolutely the worst month not only in 2012.
Main European car markets' newly registered vehicles decreased in 2012
Except from the United Kingdom, all important markets recorded double-digit declines. Spain and Italy were in the worst situation and fell by 23.0% and 22.5% respectively. Germany and France were relative better, declining by 16.4% and 14.6% respectively. Only the UK got positive growth, a 3.7% increase.
