EU new car registrations plunge to lowest level since 1995

New car registrations in the EU fell to their lowest level since 1995 last year, according to data out today from European automotive industry association ACEA.

Over 2012 as a whole, the EU car market contracted by 8.2 per cent year on year as 12.05m vehicles were sold.

In December, demand for new cars slumped 16.3 per cent, the steepest decline during a month since 2008. Almost 800,000 cars were registered in the EU, although UK was the only significant market to post growth over the month.

Most markets posted a double-digit downturn in car demand over the month, with registrations down 22.5 per cent in Italy and 23 per cent in Spain.