European car registrations go into reverse, says PwC
The firm has published its latest Autofacts’ monthly European car market round-up, which shows a fall in many European car markets last month.
UK car registrations fell for the 12th consecutive month in June, by 6.2% to 183,125 units taking the year to date total down by 7.1% to 1,029,638 units.
Elsewhere in Europe the figures were also in reverse, with a drop of 31.4% in Spain to 83,385 units (ANFAC) compared to June 2010 and the June SAAR (seasonally adjusted annual rate) stood at just 806,000 units, the lowest level since January 2011.
In Italy, registrations fell by 1.7% in June to 168,832 units (ANFIA), which heralds the 14th monthly decline in 15 months and in Germany they fell by 0.3% on last year (KBA), although when adjusted for working days the market continued to show growth.
Commenting on the situation across Europe, Michael Gartside, senior analyst with PwC’s Autofacts, said 'Working days again played their part in influencing the market direction in Europe, this time fewer working days in key countries such as France and Germany contributed to an estimated 8% fall in Europe. For the year to date, registrations have fallen by an estimated 1.9%.
'One notable development causing slight concern is that the high growth seen in some of the mid-tier markets in the first five months, such as Austria, the Netherlands and Sweden, came to an abrupt end in June. Whilst fewer working days may have accounted for some of the contraction, this may signal the start of a slowdown in demand in these markets after the very strong growth for the past 12-18 months.'