In November, passenger car registration in the EU decreased by 20.5% YoY, totaling 713,346 units. The biggest decrease reported in EU was in Germany, where the reported decrease amounted to 92k units, representing a 31.7% YoY decrease. Also, Italy reported a significant decrease of 34k units, representing a decrease of 25% YoY.

However, when observing the development since the beginning of the year, the situation is not that bad. EU demand for new cars decreased only by 0.04% YTD, reaching 8.9m units registered in total. When observing the whole period, Germany, as a major market, reported a decrease of 8.1%. This decrease was partly offset by an increase in another major market, Italy. Italy reported an increase of 8.6% YTD, which is an increase of 109k units of cars registered. Spain, which is also considered a major market, reported a slight increase of 3.8% YTD.

When observing the situation in the region, Croatia posted a decrease of 4.7% YoY, while YTD Croatia reported a steep increase of 25%, amounting to 42.5k. Slovenia reported a slightly different story. In November, car registered reported a double-digit increase of 15.5% YoY, but when compared since the beginning of the year, Slovenia reported a slight increase of 0.2% YTD.