European Car Sales Fall By 8% in June

Economy Europe

European new-car sales fell 7.9 percent in June, with big declines for Nissan, Volvo, Honda and Fiat Chrysler Automobiles.

Registrations fell to 1.49 million cars last month from 1.62 million a year earlier across the European Union and EFTA countries.

Nissan’s aging model lineup contributed to a 27 percent June sales slump while Volvo saw deliveries tumble 22 percent. Honda’s registrations plunged 19 percent.

Registrations fell 14 percent at FCA, 10 percent at BMW, 9.6 percent at Volkswagen Group and 8.2 percent for both Mercedes parent Daimler and PSA Group.

Among Volkswagen Group brands, Seat was the only winner with registrations up 7.4 percent. VW brand’s volume fell 14 percent, Audi was down 9 percent and Skoda sales declined by 8.5 percent.

While ACEA blamed the June drop on fewer working days during the month, the weak showing adds to the gloom enveloping the sector and brings the fall to 3.1 percent since the start of 2019.

For European automakers, weakening demand at home compounds the pressure from a sharper contraction in China and emerging markets that may yet bring more profit warnings.




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