EU car sales seen slowing in 2018 with Brexit risk – ACEA

Car sales growth in the European Union are likely to slow to 1 percent in 2018, the European Automobile Manufacturers Association (ACEA) said on Wednesday, saying stricter rules on car emissions and Brexit were threats to the industry.

Last year, new passenger car registrations rose 3.4 percent in 2017, the fourth consecutive year of growth, reaching more than 15 million vehicles for the first time since 2007.

ACEA President Carlos Tavares, chairman of the managing board of PSA Group, blamed the industry slow down on new EU regulations on carbon dioxide (CO2) emissions and a lack of market predictability brought on by Britain’s impending exit from the bloc.

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Source: ReutersGAI