Demand for new cars in the EU recorded its 14th consecutive fall in November. Registrations of new cars were down 10.3 percent in November 2012 on the same month last year. Meanwhile, a close to 50 percent drop was seen in Romania, where new car registrations for November this year were down 44.6 percent on November 2011.

New car registrations for January to November 2012 were also down by 16.7 percent in Romania on the same period last year. At an EU level, demand between January and November 2012 fell by 7.6 percent on the same period last year.

According to the European Automobile Manufacturers' Association (ACEA), all the EU's major car markets, with the exception of the UK, experienced declines in demand in November. Germany's market contracted by 3.5 percent in November 2012 compared to November 2011, while France, Italy and Spain all saw contractions in demand of around 20 percent. The figures for January to November showed the same trend, growth for the UK and contraction for all the other major markets.

Liam Lever, liam@romania-insider.com