European new car sales slump 9.5% in March: Trade body
New car sales in Europe slumped 9.5 percent in March as economic uncertainty spooked buyers in the region's biggest markets, the ACEA European automakers' association said on Tuesday.
By Agencies |
BRUSSELS: New car sales in Europe slumped 9.5 percent in March as economic uncertainty spooked buyers in the region's biggest markets, the ACEA European automakers' association said on Tuesday.
Registrations of new passenger cars in Europe -- comprising the EU members except Cyprus and Malta, plus Iceland, Norway and Switzerland -- totalled 1,654,214 in March.
The drop was driven by 10.3-percent fall over one year in the 15 oldest members of the European Union while fast growing new member states continued to see sales holding up with an increase of 3.5 percent.
"In a context of economic uncertainty generated by the US financial crisis, car sales in western Europe were affected most by the decline," ACEA said in a statement.
It also said that the early celebration of Easter had a negative impact on sales.
Among the major brands, Europe's biggest carmaker, the Volkswagen group, saw its sales drop 12.5 percent in March while the second biggest automaker, the PSA group, saw its sales fall 13.9 percent.
Following them, the Ford group saw sales of its new cars fall 11.9 percent in March while the GM group's sales plunged 12.0 percent.
Sales of new Renaults fell 5.5 percent while Fiat sales plummeted 12.1 percent.
Toyota sales nosedived 16.5 percent in March while BMW rose 2.3 percent amid fast growth at its Mini brand. Rival German luxury carmaker Daimler saw its sales jump 1.4 percent.
Registrations of new passenger cars in Europe -- comprising the EU members except Cyprus and Malta, plus Iceland, Norway and Switzerland -- totalled 1,654,214 in March.
The drop was driven by 10.3-percent fall over one year in the 15 oldest members of the European Union while fast growing new member states continued to see sales holding up with an increase of 3.5 percent.
"In a context of economic uncertainty generated by the US financial crisis, car sales in western Europe were affected most by the decline," ACEA said in a statement.
It also said that the early celebration of Easter had a negative impact on sales.
Among the major brands, Europe's biggest carmaker, the Volkswagen group, saw its sales drop 12.5 percent in March while the second biggest automaker, the PSA group, saw its sales fall 13.9 percent.
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Following them, the Ford group saw sales of its new cars fall 11.9 percent in March while the GM group's sales plunged 12.0 percent.
Sales of new Renaults fell 5.5 percent while Fiat sales plummeted 12.1 percent.
Toyota sales nosedived 16.5 percent in March while BMW rose 2.3 percent amid fast growth at its Mini brand. Rival German luxury carmaker Daimler saw its sales jump 1.4 percent.
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