European car market grows for 3rd consecutive month in October

ANKARA

The European passenger car market grew 12.2% year-on-year in October, marking the 3rd consecutive month of rise, according to an industry group on Thursday.

Passenger car registrations in the EU reached 745,855 units in October, the European Automobile Manufacturers Association (ACEA) said in a statement.

However, the figure still remains below pre-pandemic levels, down 290,000 units.

All key EU markets positively contributed to the growth, with double-digit gains seen in Germany (16.8%), Italy (14.6%) and Spain (11.7%). France's passenger car market expanded 5.5% annually in October.

Despite the recovery since August, previous declines continued weighing negatively on the cumulative performance.

In the January-October period, new car sales in the EU fell 8.1% on a yearly basis to 7.5 million units.