When EU car sales rose 4.8 percent in July it was quickly feted as the turn-around of the ailing Old Country car market . Being our curmudgeonous selves, and aided by a bit of first-hand experience , we did not buy into the story. A month later, the EU market is back on its downward track, and it is making history.
New passenger car registrations declined 5.0% in August, reports the EU auto manufacturer umbrella organization ACEA, which finally returned from its annual month-long vacation. January through August, new cars sales stand at 7,841,596 units, or 5.2% less than in the same period last year, which has the dubious honor of being “the lowest January to August level ever recorded,” ACEA says.