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European auto sales dive in June

European auto sales dive in June

Mubasher: European car sales dropped sharply in June, extending a downward spiral this year, according to an auto industry group.

European new vehicle registrations fell by 7.8% year-on-year to 1.446 million units in June, from 1.569 million, the European Automobile Manufacturers’ Association (ACEA) said.

Car registrations in France and Spain fell 8.4% and 8.3% to 130,519 and 230,964 units, respectively last June.

The ACEA, which represents the 15 Europe-based car, van, truck and bus makers, attributed the sales drop in June on fewer working days during the month.

By carmakers, Volvo recorded the biggest June sales plunge among Europe’s auto giants, falling by 21.9%, followed by a drop of 13.6% for Fiat-Chrysler.

BMW’s sales fell by 9.6%, while demand for Volkswagen, Peugeot and Daimler recorded declines of 9.5%, 8% and 7.6%, respectively.

For the first half of the year, European auto sales fell year-on-year to 8.183 million, from 8.449 million.