19.01.202106:08:00UTC+00Europe's New Car Registrations Continue To Decline: ACEA

Europe's new car registrations continued to fall in December, data published by the European Automobile Manufacturers' Association, or ACEA, showed on Tuesday.

Car registrations were down 3.3 percent on a yearly basis, but slower than the 12 percent fall logged in November.

Data showed that the four largest EU markets reported very different results. Sales in Italy declined 14.9 percent and that in France slid 11.8 percent. Meanwhile, Germany registered a robust growth of 9.9 percent and Spain's sales remained stable.

In the whole year of 2020, the market recorded its biggest yearly drop in demand since records began.

EU passenger car market contracted 23.7 percent to 9.9 million units as a direct result of the Covid-19 pandemic. All 27 EU markets recorded double-digit declines throughout 2020.