Brussels - Registration of new cars in Europe plunged by 27 per cent in January, compared to a year earlier, as the auto industry continues to suffer from tight credit and reduced consumer spending, the European Automobile Manufacturers' Association (ACEA) announced Friday in Brussels.
January 2009 sales volume was 958,500 vehicles, the lowest total in two decades, the ACEA said in a press statement.
The new EU member states were worst hit, with Romania and Hungary seeing declines of more than 50 per cent in new car registrations, while the Czech Republic posted a drop of 12.3 per cent.