Nissan, Volvo and FCA lead European sales decline

Nissan, Volvo and FCA lead European sales decline

European car sales dropped 7.9per cent in June, led by bigger declines for Nissan , Volvo and Fiat Chrysler (FCA) , according to industry data published on Wednesday.

FILE PHOTO: Nissan logo is pictured during the media day for the Shanghai auto show
FILE PHOTO: A Nissan logo is pictured during the media day for the Shanghai auto show in Shanghai, China, April 16, 2019. REUTERS/Aly Song/File Photo

PARIS: European car sales dropped 7.9per cent in June, led by bigger declines for Nissan , Volvo and Fiat Chrysler (FCA) , according to industry data published on Wednesday.

Registrations fell to 1.49 million cars last month from 1.62 million a year earlier across the European Union and EFTA countries, the Brussels-based Association of European Carmakers said in a statement. Calendar effects resulted in two fewer sales days in most markets, accentuating the decline.

Registrations for the first half closed 3.1per cent lower, ACEA said. For European carmakers, weakening demand at home compounds the pressure from a sharper contraction in China and emerging markets that may yet bring more profit warnings.

Nissan's aging model lineup contributed to a 26.6per cent June sales slump while Volvo Cars, owned by China's Geely, saw deliveries tumble 21.7per cent.

Registrations also fell 13.5per cent last month at FCA, 10.1per cent at BMW , 9.6per cent at Volkswagen Group and 8.2per cent for both Mercedes parent Daimler and France's PSA Group . The Peugeot maker's domestic rival Renault suffered less, posting a 3.9per cent decline.

(Reporting by Laurence Frost, editing by G Crosse)

Source: Reuters

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