association@ (Retops with overall EU car sales)
BRUSSELS, Jan 31 (Reuters) - Car sales in the European Union are likely to slow to 1 percent in 2018, the European Automobile Manufacturers Association (ACEA) said on Wednesday, warning that stricter rules on car emissions and Brexit were a threat to the industry.
Last year, new passenger car registrations rose 3.4 percent in 2017, the fourth consecutive year of growth, reaching more than 15 million vehicles for the first time since 2007.
ACEA President Carlos Tavares, chairman of the Managing Board of PSA Group, blamed the industry slow down on new EU regulations on carbon dioxide (CO2) emissions and a lack of market predictability brought on by Britain's impending exit from the bloc.
"In light of major EU legislation ahead of us, notably new CO2 targets for cars and vans as well as the threat of Brexit, this recovery is fragile," he said in a statement.
He said the European Commission's proposals to promote low-emissions vehicles did "not sufficiently consider other alternatives" to electric cars.
On Brexit, he urged negotiators to come to a swift arrangement on the new terms of Britain's trading relationship with the bloc.
"It is a struggle for our industry to make investment decisions when we don't know what is just around the corner," Tavares said. (Reporting by Philip Blenkinsop; Editing by Alissa de Carbonnel)