EU: Passenger car market contracts in January-February

ANKARA

The EU's passenger car market shrank 7.4% in January-February 2020 compared to the same period last year, an industry group said on Wednesday.

Automobile registrations across the 27-member bloc stood at 1.9 million in the first two months of this year, the European Automobile Manufacturers' Association (ACEA) said.

The report highlighted that each of the four major EU markets has faced falling demand in 2020 so far.

Germany posted a drop of 9%, followed by France (‐7.8%), Italy (‐7.3%) and Spain (‐6.8%) during the same period.

The EU is the main automotive export market for Turkey, where top international automakers -- Ford, Honda, Hyundai, Mercedes, Renault, and Toyota, among others -- are operating.

According to the Automotive Distributors' Association (ODD) data, Turkey's automobile market was almost doubled with a 97.9% rise in car sales to 59,743 in the first two months.

The country's automobile exports rose 5% year-on-year to 134,282 passenger cars, according to Turkey's Automotive Manufacturers Association (OSD) data.

ANKARA

The EU's passenger car market shrank 7.4% in January-February 2020 compared to the same period last year, an industry group said on Wednesday.

Automobile registrations across the 27-member bloc stood at 1.9 million in the first two months of this year, the European Automobile Manufacturers' Association (ACEA) said.

The report highlighted that each of the four major EU markets has faced falling demand in 2020 so far.

Germany posted a drop of 9%, followed by France (‐7.8%), Italy (‐7.3%) and Spain (‐6.8%) during the same period.

The EU is the main automotive export market for Turkey, where top international automakers -- Ford, Honda, Hyundai, Mercedes, Renault, and Toyota, among others -- are operating.

According to the Automotive Distributors' Association (ODD) data, Turkey's automobile market was almost doubled with a 97.9% rise in car sales to 59,743 in the first two months.

The country's automobile exports rose 5% year-on-year to 134,282 passenger cars, according to Turkey's Automotive Manufacturers Association (OSD) data.