78.69 F
New York
August 18, 2019
Home » Blog » Nissan, Volvo and FCA lead European sales decline
Reuters - Business

Nissan, Volvo and FCA lead European sales decline

Nissan, Volvo and FCA lead European sales decline

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 (Reuters) – European car sales dropped 7.9% in June, led by bigger declines for Nissan (7201.T), Volvo and Fiat Chrysler (FCA) (FCHA.MI), 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 3.1% 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 26.6% June sales slump while Volvo Cars, owned by China’s Geely, saw deliveries tumble 21.7%.

Registrations also fell 13.5% last month at FCA, 10.1% at BMW (BMWG.DE), 9.6% at Volkswagen Group (VOWG_p.DE) and 8.2% for both Mercedes parent Daimler (DAIGn.DE) and France’s PSA Group (PEUP.PA). The Peugeot maker’s domestic rival Renault (RENA.PA) suffered less, posting a 3.9% decline.

Reporting by Laurence Frost, editing by G Crosse

http://feeds.reuters.com/~r/reuters/businessNews/~3/HpDsNLIiBto/nissan-volvo-and-fca-lead-european-sales-decline-idUSKCN1UC0JI

Related Articles

Exclusive: Foxconn eyes sale of $8.8 billion China plant amid trade war woes – sources

Reuters

Boeing takes $4.9 billion charge related to 737 MAX

Reuters

Bombardier posts quarterly loss as rail division struggles

Reuters

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Click whichever is suitable. Accept Read More