BRUSSELS -- Car prices in the European Union fell 2.5 percent in real terms last year, the European Commission said.
EU regulators said nominal prices for the 89 best-selling car models rose 0.3 percent against a 2.8 percent increase in overall consumer prices.
"It is good to see that consumers in Europe are benefitting from competition in the markets for new car sales and continue to enjoy significantly falling prices in real terms," said EU Competition Commissioner Joaquin Almunia in a statement on Tuesday.
Sales of new cars in Europe declined 4.9 percent to 13.8 million last year, the car industry group ACEA said in January. European car deliveries declined after the expiration of government cash-for-clunkers programs damped demand.