Factors Affecting The New Vehicle Registration In The Eu Countries

Factors Affecting The New Vehicle Registration In The Eu Countries

Cumhur, Erdem

Theobjective of this study is to determine whether economic factors (namelyprice, consumer preferences, consumer income, interest rate, fuel prices, industrial production, and trade)have any explanatory power on new vehicle registry in the EU member countries. To meet this objective, a panel cointegration analysis was applied to the panel of thirteen EU countries for the time period spanning from January 1999 to August 2010. This study concludes that while the vehicle sales in the EU are determined by the macroeconomic factors instead of the factors in the demand theory, the consumer preferences are impetuses for passenger car sales in the EU countries. Keywords: newvehicle sales, demand theory, macro economic variables, EU countries, panel cointegration,

Conference or Workshop Item
PeerReviewed

2012-05-31

1355