January’s European car sales fell slightly year-on-year, dropping 0.3% according to figures from the European Automobile Manufacturers’ Association.

A total of 1,308,761 cars were registered in the first month of 2008, compared to 1,312,131 in 2007.

The market dropped in the established western European countries, although in new EU member states sales were up 20.1%.

Of the five major markets, only Germany registered more cars than last year, up 10.5%.

Registrations in Britain dropped by 2.1%, France by 5.6%, Italy by 7.3% and Spain by 12.7%.

The fall is attributed to the global credit crunch.