EU New Car Registrations Fall Only 3.3% in December

Demand for new passenger cars in the European Union declined 3.3 percent to 1031070 units in December of 2020, the smallest decrease in 2029. Italy (-14.9 percent) and France (-11.8 percent) both suffered double-digit losses while Germany posted a solid gain (9.9 percent) and Spain remained stable. Considering full 2020, the EU passenger car market contracted by 23.7 percent to 9.9 million units, the biggest drop on record, as a direct result of the COVID-19 pandemic. All 27 EU markets recorded double-digit declines throughout 2020. Among the region’s biggest car markets, Spain posted the sharpest drop (-32.3 percent), followed closely by Italy (-27.9 percent) and France (-25.5 percent), while full-year losses were significant but less pronounced in Germany (-19.1 percent).