EU: Commercial vehicle market down 22.2% in Jan-Oct

By Aysu Bicer

ANKARA (AA) - The EU commercial vehicle market saw a sharp drop of 22.2% in the first 10 months of 2020, totaling 1.4 million units on a yearly basis, a trade group said on Friday.

Despite the declines being less severe than in the first half of the year, all 27 EU markets continued to record double-digit drops from Jan to Oct, according to a statement by the European Automobile Manufacturers' Association (ACEA).

"This includes the four major ones: Spain (-30.4%), France (-19.8%), Germany (-18.4%) and Italy (-18.4%)," it noted.

On a monthly basis, demand for commercial vehicles narrowed slightly, with registrations falling by 1.2% to 172,743 units last month.

The group also said that the demand for light commercial vehicles increased last month, though registrations of new trucks and buses had declined.

"The major EU markets posted mixed results, with Germany (9.4%) and Italy (7.4%) recording growth, while the Spanish (-8.3%) and French (-4.5%) markets contracted in October," it added.