World Bulletin / News Desk
“In February 2017, EU demand for passenger cars increased only modestly, 2.2 percent, especially when compared to January’s double-digit figures," ACEA said in the report.
Overall passenger cars registration in February totaled 1,078,503 units, it said.
Despite the weak performance in February compared to the previous month’s 10.2 percent increase, the association noted that the new reading was close to February 2008 levels just before the economic crisis hit the automotive industry.
Among the major markets, France, Germany and U.K. all saw declines from a year earlier partially due to February having one working day less, the report said, adding the performance of 12 member states, who joined the bloc after 2004, drove the sales higher, showing a 15.9 percent hike in the month from a year earlier.
The EU is the largest export market for the Turkish automobile industry, which is vital for the Turkish economy as Turkey is home to several joint venture car companies such as Oyak Renault, Tofas-Fiat Chrysler, and Ford Otosan.
The Automotive Industry Association (OSD) of Turkey announced Monday that the auto exports in the first two months of the year surged 31 percent in numbers from a year earlier, and 60 percent in cars alone.
Total exports in January and February totaled $4.33 billion, up 21 percent compared to the same period last year, the OSD report said, adding passenger car sales jumped 92 percent, hitting $1.84 billion.
However, regional markets struggled as profit-takers moved in after a healthy week and traders were spooked by reports the man probing Donald Trump's links to Russia will also investigate his business dealings.
In initial deals in the eurozone, Frankfurt's DAX 30 slipped 0.2 percent to 12,424.80 points and the CAC 40 in Paris also slipped 0.2 percent to 5,188.92 points compared with the closing levels on Thursday.
The greenback had soared along with global markets for months after Trump's November election victory on hopes his big-spending, tax-cutting policies would fire up the world's top economy and fan inflation.
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The application "will allow EasyJet to establish a new airline, EasyJet Europe, which will be headquartered in Vienna and will enable EasyJet to continue to operate flights both across Europe and domestically within European countries after the UK has left the EU," the no-frills airline said in a statement.
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