Number of cars registered in Europe falls
The number of cars registered in western Europe fell by 2.9% last year despite strong December figures, as fears about the economy choked off demand.
The Association of European Auto Manufacturers, or ACEA, said 14.4 million vehicles were sold in 2002, around 400,000 fewer than in 2001.
The drop was nonetheless less than the 5% analysts had predicted “in the current economic context,” ACEA said.
December registrations, which mirror sales, jumped 11.5% to around one million vehicles as consumers rushed to take advantage of incentive schemes before they expired.
This was particularly evident in Italy, where sales surged by 51.4%, a boost for ailing Fiat.
Japanese car makers continued to snatch away market share with Suzuki sales up by 81%.
