European Auto Market Grew By 1.2% In 2019: ACEA
Umer Jamshaid Published January 16, 2020 | 01:16 PM
The European auto market grew by 1.2 percent last year, with a push in December raising the total number of sales to 15.3 million vehicles, sector association ACEA said Thursday
Paris, (UrduPoint / Pakistan Point News - 16th Jan, 2020 ) :The European auto market grew by 1.2 percent last year, with a push in December raising the total number of sales to 15.3 million vehicles, sector association ACEA said Thursday.
Regulatory changes were behind a jump of 21.7 percent in December compared with the same month a year earlier, the European automobile Manufacturers' Association said.
Throughout the year Volkswagen cemented its place at the top of EU auto sales, with its figures up 3.1 percent. The group includes the Audi, Porsche, Seat and Skoda marques.
In second place was French automaker PSA, which owns Peugeot, Citroen, DS, Opel and Vauxhall, though it reported a 1.1 percent drop in sales.
Its French rival the Renault group that includes the Alpine, Dacia and Lada brands, the third larget by European sales, increased by 1.1 percent for the year as a whole, ACEA data showed.
The European market had started the year in decline, "but the last quarter, and the month of December in particular, pushed the annual performance into positive territory", the ACEA, said in a statement.
Of the main European markets Germany saw the highest sales increase, up a strong five percent, with France rising 1.9 percent and Italy up 0.3 percent.
On the other hands sales in Spain were down 4.8 percent and in Britain they slid 2.4 percent.
The European market has been "artificially boosted" by the tightening of standards on carbon dioxide emissions, said Flavien Neuvy, director of the Cetelem Observatory, a research unit of BNP Paribas.
The sales figures are based on the registration of vehicles, and Neuvy said carmakers had an incentive to register at the end 2019 large CO2-emitting vehicles so they would not be used in calculations for 2020 on the overall emissions levels its fleet.
Carmakers who breach the lower ceiling in 2020 of an average 95 grams of CO2 emitted per kilometre for their fleet face fines.
Related Topics
Recent Stories
Aeon & Trisl signifies back-to-back successes by securing the No. 1 Award at the ..
Attaullah Tarar’s success notification from NA-127 challenged
PSX witnesses positive trend today
PM Shehbaz meets CJP Isa to address IHC judges’ concerns
Pakistan vows to bring to justice perpetrators, abettors of Bisham terrorist att ..
May 9 riots: SC allows conditionally to military courts to deliver reserved verd ..
Interior Minister arrives in Peshawar after Shangla suicide attack
OPPO Reno 11 F 5G: Setting New Records as Pakistan's Most Beloved Smartphone Lin ..
PCB dismisses FICA's claims of unpaid dues in PSL
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 28 March 2024
Today Gold Rate in Pakistan 28 March 2024
Niger says US to submit plan to 'disengage' troops
More Stories From Business
-
Russian Ambassador congratulates Jam Kamal on assuming charge, discusses trade
46 minutes ago -
Aeon & Trisl signifies back-to-back successes by securing the No. 1 Award at the Emaar & Top Award a ..
52 minutes ago -
Development of SMEs govt's top priority: Rana Tanveer
1 hour ago -
PSX witnesses positive trend today
2 hours ago -
Gold rates up by Rs.1,500 to Rs.231,000 per tola
3 hours ago -
Pakistan earns US $419m from travel services' export in Jul-Jan
4 hours ago
-
Tokyo stocks drop on ex-dividend day
5 hours ago -
Exchange rates for currency notes
5 hours ago -
Foreign exchange rates
6 hours ago -
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 28 March 2024
8 hours ago -
Today Gold Rate in Pakistan 28 March 2024
8 hours ago -
Tokyo shares sink on ex-dividend day
9 hours ago