New figures released on Friday (13th March) have suggested that new passenger car sales were down by 18.3 per cent on a year-on-year basis during February.

The European Automobile Manufacturers' Association (ACEA) revealed that there were just 968,159 new registrations across the continent as consumer demand continued to fall.

Furthermore, the data mean that after two months of the year, the European market as a whole has shrunk by 22.6 per cent in comparison to the equivalent period in 2008.

In western Europe, the February annual decline was 17.3 per cent, although Germany (21.5 per cent growth) helped to boost the final total following recent tax relief strategies in the country.

However, all other nations experienced declines except for Luxembourg (0.3 per cent rise), with the UK (-21.9 per cent), Italy (-24.4 per cent), Spain (-48.8 per cent) and France (-13.2 per cent) all struggling.

Meanwhile, the ACEA figures also showed that registrations were down 30.3 per cent in February on a year-on-year basis in the new EU member countries, although individual results were mixed.

Poland registered the most new cars (30,194) and posted an annual rise of 7.3 per cent, while the Czech Republic (-7.7 per cent), Hungary (-46.4 per cent) and Romania (-66.5 per cent) all suffered declines.

In terms of automakers, Volkswagen, Europe's largest manufacturer, saw registrations fall by 10.2 per cent annually, with a 31.2 per cent decrease recorded for its Spanish brand, Seat.

Daimler posted a drop of 34.2 per cent, with registrations of its Smart line down 0.6 per cent, while French firms PSA Peugeot Citreon and Renault experienced declines of 25.3 per cent and 23.1 per cent respectively.

In Italy, Fiat saw a group-wide fall of 16.5 per cent, Japanese firm Nissan recorded a 25.5 per cent drop and struggling US firm General Motors - which owns companies such as Saab and Opel - posted a 21.9 per cent decline.

Sources:

PASSENGER CARS: European registrations down 18.3% in February (13/03/09)
http://www.acea.be/index.php/news/news_detail/passenger_cars_european_registrations_down_183_in_february/

UPDATE 1-European February new car sales fall 18.3 pct-ACEA (13/03/09)
http://www.reuters.com/article/marketsNews/idUSLD37524220090313?sp=true