European car registrations dropped, declining for the second month in row


European car registrations dropped in November, declining for the second month in row, industry data showed on Thursday, as measures to restrict a second coronavirus wave hit sales in the continent’s largest markets.

In November, new car registrations dropped by 13.5% year-on-year to 1.05 million vehicles in the European Union, Britain and the countries of the European Free Trade Association (EFTA), figures from the European Automobile Manufacturers’ Association (ACEA) showed.

Europe’s five largest markets all posted negative results. Sales in the United Kingdom and France fell by around 27%, while Spain and Italy registered more moderate drops of 18.7% and 8.3% respectively. Registrations in Germany, which had a partial lockdown that kept showrooms open in November, fell by 3%.

Sales a Volkswagen (DE:VOWG_p) and Renault (PA:RENA) fell by around 14% each, while PSA reported a drop of 12%.

Luxury automakers also posted losses in November with BMW’s sales falling 8% and rival Daimler (OTC:DDAIF) reporting a 15.5% decline.