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EU new car registrations in January-October drop by 1.2% ACEA

November 16/2011

(ICIS) -- New registrations for passenger cars in the 27-member EU (excluding Cyprus and Malta) from January to October fell by 1.2% compared with the same period last year, an industry body said on Wednesday. According to data from the European Automobile Manufacturers Association (ACEA), 11,126,436 new passenger cars were registered in the first 10 months of 2011.

From January to October, Germany was the only major market to post significant growth (+9.8%). France saw its demand slightly increase by 0.4%, while the UK (-4.5%), Italy (-10.8%) and Spain (-19.7%) all faced a downturn, the ACEA said. New registrations for passenger cars in the EU during October were down by 1.8%, compared with the same month in 2010, to 1,005,976 units.

In October, the French and British markets performed similarly, posting 2.4% and 2.6% growth respectively. Demand in Germany, the largest market, remained stable (+0.6%), while results in Italy (-5.5%) and Spain (-6.7%) were negative, the association added. A wide variety of chemicals markets depend on demand from the automotive industry, which has suffered badly from the effects of the global economic crisis.

Perspectives of development of polymer markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit will be organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.

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