Press Release: Car price differentials in the European Union remain high, especially in the mass market segments

In its February 2002 report on car prices, the European Commission has found that price differentials for new cars in the Internal market are still substantial, despite the introduction of the euro. The situation on 1 November 2001 shows that price convergence has not taken place. Spain, Greece, Finland and Denmark, a non-member of the Euro zone, are the markets where pre-tax list prices for cars are generally the lowest. Prices in Germany, the biggest market, and Austria, are the highest. It is also apparent that prices in the United Kingdom are still much higher than in the euro zone.