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Abby Yuan

New car sales in Europe fell 8% year-on-year in November, with Asian brands falling sharply.

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According to data released by the European Association of Automobile Manufacturers (ACEA), registration of new cars in the European passenger car market fell 8.1% to 1,158,300 in November 2018, the third consecutive month of decline. Before the introduction of the new emission test (WLTP) in September, some automakers were eager to empty their inventories, which led to a 31.2% jump in vehicle registration in Europe in August. Since then, passenger car demand has begun to decline. Last month, the auto market continued to shrink in most European countries, including the five major markets.

In the first 11 months of this year, the number of new car registrations in the European passenger car market increased by 0.8% to 14,585,417 over the same period last year. Central Europe is still the biggest driving force behind the growth of registrations. So far this year, the registrations of new cars in the region have increased by 9.6% year on year. Five major European markets showed different performances, including Spain (up 8% year-on-year), France (up 4.7%) and Germany (up 0.4% year-on-year). Italian market sales fell 3.5% year-on-year, while British market sales fell 6.9% year-on-year.

As a component supplier, the decline of Asian brands has a direct impact on the sales performance of Feilongjiang Li. We look forward to the launch of new models and new technologies of various brands, which will enable the industry to recover slowly.

 

 

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Thanks for the post, Abby.

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