NewswireToday - /newswire/ -
Delhi, New Delhi, India, 2006/10/23 - Compared to the same period last year, new car registrations went down by 1.4 percent in August this year. Common uncertainty about the economic conditions, growing interest rates in some countries and rising fuel prices had been some of the reasons.
In Europe, number of registrations for new passenger cars amounted to 886,824 units in August 2006, representing a decline of 1.4 percent on August 2005. While, total registrations in the month of July 2006 were 1,220,753 units, a decline of 4.5 percent compared to July 2005. The cumulative positive result (+0.4%) for the initial eight months indicates that demand for new car is still on a positive trend in Europe.
Four out of five main markets comprising Italy, Spain, UK and Germany, posted a decline in numbers. All these markets observed decrease in sales, for example Germany had a -2.7% , France -5%, UK -4.1%, Italy -11.1% and Spain recorded a -5.1% growth in the month of July 2006. However, compared to the numbers in July 2005, the results demonstrated a 'clear sign' of a recovery.
RNCOS has recently published a report "Passenger Car Market: A Global Review (2006)". According to this report, "Passenger car segment is accountable for a substantial portion of world automotive production. Passenger car production, globally, expanded by 3.3 percent in 2005. Market share for German branded cars is still extremely high, however, imported brands made up for 35.2 percent in 2005. UK automotive accounts for 11 percent of EU automotive production. The automotive industry makes up for about 4.5 percent of gross value added and employs nearly 1.5 Million people, either directly or indirectly, in Italy. In the year 2004, 3.6 Million commercial and passenger vehicles were produced in France, making it the 5th largest manufacturer of automotive vehicles in the world"
"Common uncertainty about the economic conditions, growing interest rates in some countries and rising fuel prices had been few of the reasons behind this decline", said an analyst at RNCOS.
Key highlights of the reports include:
- Performance of major developed & emerging countries in the passenger car Industry.
- Opportunities present before the automobile players in passenger cars industry.
- Key challenges and driving forces for the industry.
- Major competitors in Global Passenger car industry.
About the report
It's an excellent document for businesses, consultants, analysts, researchers and individuals who are interested in the passenger car industry worldwide.
RNCOS, incorporated in 2002, provides Market Research Reports for your business needs and aims to put an end to your information pursuit. Our expertise in gathering global business information for industry research, corporate training, growth consulting, and business consulting, brings reputed companies and firms to us for business enhancement solutions. We can be your one-stop-shop for Industry research information and niche market analysis.