Euro car sales on the brakes

THE brakes have gone on new vehicle sales across Europe this summer as the economy looks weaker and there are continuing mounting worries over the effects of sanctions and counter-sanctions with Russia.

Growth in new vehicle sales across Europe rose 6% to 1.08 million units in July, but the year-on-year pace slowed to 2% (701,100 units) in August, reports industry group ACEA.

July new vehicle sales rose in Germany (+7% to 270,200 units), the U.K. (+7% to 172,900), Italy (6% to 114,300) and Spain (+11% to 83,400). Demand dropped 4% to 143,800 vehicles in France.

Companies reporting stronger new vehicle sales for the month included Volkswagen Group (+12% to 267,700 vehicles), Renault (+9% to 91,200) and Fiat Group (+3% to 62,200).

Demand in July was virtually unchanged at 72,200 at Ford. Sales shrank for PSA (-1% to 109,200 cars) and General Motors (-10% to 67,200).

Luxury new vehicle sales sales in July climbed for BMW (+9% to 64,700 units), Audi (+8% to 62,300) and Mercedes-Benz (+5% to 53,100).

August new vehicle sales results were mixed at the national level. New vehicle sales slipped in Germany (-0.4% to 213,100 units), France (-3% to 83,700) and -0.2% to 53,200) in Italy. But volume climbed 9% to 72,200 vehicles in the U.K. and 14% to 45,400 in Spain.

Among mass-market carmakers, August sales grew 9% to 196,900 units at Volkswagen, 2% to 67,900 at PSA Peugeot Citroen and 15% to 48,600 at Ford. Demand advanced 1% to 25,500 units at Hyundai and 2% to 21,800 at Nissan.