PSA, Renault, VW lead European car sales decline

Record ID: 78511

  • Title: PSA, Renault, VW lead European car sales decline
  • Date: 17th November 2016
  • Summary: LONDON, ENGLAND, UK (NOVEMBER 17, 2016) (REUTERS) (SOUNDBITE) (English) FIDELITY WORLDWIDE INVESTMENT, INVESTMENT DIRECTOR, TOM STEVENSON, SAYING: "The European car market is really divided between the centre and the periphery. So if you look at the latest figures for October, about 1.1 million cars sold, which is pretty much unchanged. So the European car market is flat overall but France and Germany saw big declines while Spain and Italy saw pretty good increase, in the UK car sales were really flat. So I think the future of the European car market is really dependent on what happens in Germany and France."
  • Embargoed: 2nd December 2016 11:34
  • Keywords: PSA Renault VW lead European car sales decline new registrations
  • Location: LONDON, ENGLAND, UK / FRANKFURT, GERMANY / PARIS, FRANCE / RUSSIA / CHATTANOOGA, USA
  • City: LONDON, ENGLAND, UK / FRANKFURT, GERMANY / PARIS, FRANCE / RUSSIA / CHATTANOOGA, USA
  • Country: Various
  • Topics: Economic Events
  • Reuters ID: LVA00358U1JT9
  • Aspect Ratio: 16:9
  • Story Text:European car sales fell 0.3 percent in October, with the region's three biggest automakers Volkswagen, PSA and Renault leading the decline, according to industry data published on Thursday (November 17).
    Registrations came in at 1.14 million cars last month in the region comprising European Union member states as well as Iceland, Norway and Switzerland, the Brussels-based Association of European Carmakers said in a statement.
    PSA sales fell 7.4 percent, weighed down by the Citroen brand's 8.9 percent decline, while Peugeot sales were down a more modest 4.6 percent.
    Renault group registrations were 2.1 percent lower, and Volkswagen suffered a 1.8 percent sales slide largely attributable to the core VW brand's 7.8 percent drop.
    The October numbers dampened the European auto market's performance for the year so far - now amounting to 6.9 percent year-on-year growth for January-October.
    French and German demand weakened in October, according to national data published earlier this month, causing forecaster LMC Automotive to trim its full-year market outlook for Western Europe.
  • Copyright Holder: REUTERS
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