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Trade Group Lowers Outlook for EU Car Sales
Sales of passenger vehicles in the European Union could drop as much as 10% to 11.92 million units this year, carmaker group ACEA tells The Wall Street Journal.
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Sales of passenger vehicles in the European Union could drop as much as 10% to 11.92 million units this year, carmaker group ACEA tells The Wall Street Journal.
The organization had predicted in June that volume would decline 7% in 2012. The ACEA did not elaborate on the reasons for its lower forecast.
But since the group's previous prediction, the region's demand shrank 8% to 935,400 units in July and 9% to 688,200 units last month. The latter was the lowest level for August sales in the EU since the ACEA began collecting the data in 1990.
In the January-August period registrations in the region fell 7% year over year to 8.27 million vehicles, the group reports.
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