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European new car registrations fell in June year-on-year, but showed some improvement when compared to May 2020 as lockdown measures continue to loosen across the region, Tuesday’s industry data showed.
In June, passenger car sales were down by 24.1% when compared to a year ago, with new registrations reaching around 1,131,843 vehicles in countries located in the European Union, Britain, and the European Free Trade Association (EFTA).
In May, car sales fell by 56.8%. However, sales in France increased by 1.2%, boosted by government incentives for low-emission vehicles that were introduced earlier in the month.
New registrations in Germany slumped by 32.3%, while in Spain, Italy and, Portugal saw sales tumble by 36.7%, 23.1%, and 56.2% respectively.
Overall car sales had plummeted 39.5% during the first half of 2020 as the COVID-19 pandemic continued to disrupt supply chains and showrooms across Europe.
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On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
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