European car registrations slipped in August
New car registrations in Europe dropped 1.4% in August as rising interest rates and fuel costs deterred some consumers from buying new vehicles.
Total new car registrations in August dropped to 886,824 vehicles, compared with 899,694 in the same month last year, ACEA, the European Automobile Manufacturers Association, said in a statement.
Iceland posted the biggest decline with a slide of 23%; Lithuania posted the biggest increase of 70%.
Registrations in July fell 4.5%, the group said.
“With the same number of working days across Europe, this decrease – reduced in August – seems to be influenced by general uncertainty about economic conditions,” the ACEA said.
ACEA’s survey covered the 25 members of the European Union, except Malta and Cyprus, and the four member states of the European Free Trade Association - Iceland, Liechtenstein, Norway and Switzerland.
The group represents the 13 major European car, truck and busmakers in the European Union.
