European Automobile Manufacturers’ Association (ACEA) on Thursday revised its forecast for 2019 passenger car registrations downwards to -1%.

ACEA’s initial forecast, published earlier this year, was for growth of up to 1% compared to 2018. The association now expects a slightly negative result for the full year 2019, with total EU car sales projected to be just above 15 million units at the end of this year.

“Aside from the uncertainty due to Brexit and changing macroeconomic conditions, this represents a natural stabilisation of the market,” said ACEA Secretary General, Erik Jonnaert. “Indeed, the pace of growth has been slowing down in recent years.” This is also in line with the European Commission’s downward revision for projected EU GDP growth, as car sales strongly mirror economic growth.