Domingo, 19 Agosto, 2018

European car sales drop in April but remain up for the year

Volkswagen cars are parked outside a VW dealership in London Volkswagen cars are parked outside a VW dealership in London Britain
Manuel Armenta | 17 May, 2017, 05:41

Europe's new auto registrations declined in April mainly due to the timing of Easter holidays, data published by the European Automobile Manufacturers Association showed Tuesday.

Registrations of VW, the biggest selling auto brand in Europe, fell by 14 per cent in April, while Renault, the next best selling brand, saw sales decline 3.3 per cent, statistics showed.

Inflation has accelerated in Britain in recent months, driven by the weakening of the pound since it left the European Union, and by the rise in oil prices which has fuelled inflation in other countries too, it also reported the agency.

The decline in April registrations, the first monthly drop this year, limited the four-month increase to 4.5 per cent at 5.49 million cars, ACEA said. Sales for Fiat Chrysler Automobiles (FCA) slipped just 0.8% as its Alfa Romeo brand offset the results registering a +48.6% increase in sales in the month.

Volkswagen's group European sales fell 9 percent, narrowing the German company's market share to 24.8 percent from 25.4 percent a year earlier, as demand at the namesake VW brand as well as the Audi and Porsche marques dropped more than 10 percent.

According to Pantheon Macroeconomics "A grim start to Q2 for the European vehicle sector..." A 6.6% decline, however, is not representative of the underlying trend.

The unbeatable automobile king is Germany's Volkswagen Group; it stood its ground entering this year with a consistent performance from the past January to April.