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(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.
mrcplast.com
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