EU: Passenger car demand sees slight recovery in Sept.

ISTANBUL

The demand for passenger cars in the EU posted the first increase of 2020 in September, indicating a slight recovery in the pandemic period, according to the European Automobile Manufacturers' Association's (ACEA) report.

The passenger car market in the EU registered an increase of 3.1% in September on a yearly basis, while it narrowed by 28.8% in the first nine months of 2020, the ACEA said on Friday.

The pandemic has affected several economic activities across the world.

The association said new passenger car registrations across the 27-member bloc totaled nearly 933,987 in September and 7.05 million in the nine-month period.

In September, among major markets, Italy (9.5%) and Germany (8.4%) posted increases, while Spain (minus 13.5%) and France (minus 3%) registered declines.

In the nine-month period, all major markets posted declines between minus 25.5% and minus 38.3%, the worst was in Spain.

The VW Group (Volkswagen, Audi, Skoda, Seat and Porsche), the PSA Group (Peugeot, Citroen, and Opel), and the Renault Group (Renault, Dacia, Lada and Alpin) were the top brands in the passenger car market both in September and the nine-month period.

Last year, over 15.3 million new passenger cars were registered in the EU.

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