European Passenger Car Sales for 2008
In 2008, the European car market experienced a significant downturn primarily due to the global financial crisis and economic recession. The European car market saw a sharp decline in 2008, with approximately 18.8 million new car registrations. This figure represents a substantial decrease compared to the previous year. The largest car markets in Europe during 2008 were Germany, Russia, Italy, United Kingdom, France, and Spain. These countries were severely impacted by the economic downturn and experienced significant declines in car sales.
Germany remained the largest car market in Europe in 2008, with around 3.1 million new car registrations. However, the market experienced a slight decline compared to the previous year, influenced by the global financial crisis and weakening consumer confidence. The United Kingdom witnessed a decline in passenger car sales in 2008, with approximately 2.1 million new car registrations. The market was heavily affected by the financial crisis, a decline in consumer spending, and reduced access to credit. Russia was one of the only countries that grew, up 15% to 2.9 million new cars sold.
