European August New Car Registrations Up 7.8% On Year

European August New Car Registrations Up 7.8% On Year - ACEA

European new car registrations bounced back in August, with most markets showing recovery, although consumer sentiment in Ireland and Portugal remains damped by sovereign debt woes.

August new car registrations were up 7.8% on the year, following a 1.9% on-year decline in July, the European Manufacturers' Association, ACEA, said Friday.

German new car registrations jumped over 18% in August from a year earlier, following a rise of 9.9% on year in July. U.K. registrations rose 7.3% in August from a year earlier, after a 3.5% decline in July. August registrations were sharply higher in Lithuania and Estonia, which posted on-year gains of 72% and 86%, respectively.

August registrations in Portugal skidded 32% in August from a year earlier, following a 30% decline in July. In Ireland, August registrations slumped 36%, after falling 35% in July.

Overall January-August sales were down 1.1% from the year-earlier period.

Registrations of new BMWs (BMW.AG) posted the sharpest gain in August, rising just over 33% on the year. Volkswagen AG (VOW.XE) registrations rose nearly 15%, while Daimler AG (DAI.XE) August registrations were up 14% on the year.

-By Monica Houston-Waesch, Dow Jones Newswires; 49 69 2972 5504; nikki.houston@dowjones.com

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