EU: Car market narrows by 18% year-on-year in March

The EU's passenger car market saw a remarkable annual drop in new vehicle registrations in March, an industry group said on Wednesday.

Automobile registrations across the 27-member bloc fell 18.8% year-on-year to 1.1 million units last month, according to an Automotive Distributors' Association (ODD) report based on data from the European Automobile Manufacturers' Association (ACEA).

In the same month last year, the figure was 1.4 million units.

The largest annual drop was seen in Sweden with 39.5%, while the largest rise took place in Iceland with 52.3%.

In January-March, the car market shrank 10.6% compared to the same period in 2021 to 2.7 million units.

Turkey ranked sixth in European automobile sales with 116,834 units, a fall of 25.3% compared to the same month last year.

Source: Anadolu Agency