European car sales see record fall in 2020 amid pandemic – business live

Rolling coverage of the latest economic and financial news, as European Union car sales slump 23.7% last year

EU car sales drop 23.7% last yearWorst drop on recordUK car sales tumbled 29% last year

8.23am GMT

VW Group (which includes Volkswagen, Skoda, and Audi) sold the most cars across the EU last year, with sales down 21.6 % at 2.54 million.

PSA Group (including Peugeot, Citreon and Opel/Vauxhall) saw its sales slump 29% to 1.5m, followed by Renault Group (Renault, Dacia, Lada) with 1.1m cars sales (down 25%).

Passenger #car registrations: 2️⃣4️⃣% in 2020; -3.3% in December. "2020 saw the biggest yearly drop in EU car demand since records began, with new-car registrations falling by 3 million units compared to 2019."PRESS RELEASE: https://t.co/7fjYQwpPmW pic.twitter.com/vtk6hlA4Wq

8.04am GMT

Across Europe as a whole, car sales slumped by over 24% last year -- with almsot four million fewer new vehicles hitting the road.

Some 11,961,182 car registrations were recorded in total across the EU, the UK, and Iceland, Norway and Switzerland -- down from 15.8m in 2019.

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