Europe Passenger Car Sales Increase For Third Month

Europe's passenger car sales increased for the third straight month in November, data from the European Automobile Manufacturers' Association, or ACEA, showed Tuesday.

New passenger car sales grew 4.9 percent on a yearly basis in November, which was the third straight of growth. However, the pace of increase slowed from 8.7 percent rise seen in October.

The ACEA said the increase is to a large extent reflects a low base of comparison, as registrations went down 8 percent in November 2018.

All major European markets logged growth except the UK. Sales in Germany surged 9.7 percent. At the same time, Spain and Italy reported a moderate increase of 2.3 percent and 2.2 percent, respectively. France's car sales gained 0.7 percent.

Meanwhile, the UK car sales decreased 1.3 percent annually in November.

In the first eleven months of the year, new car registrations in Europe decreased 0.3 percent from the same period last year.

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