Europe car sales lowest since 1996 after 12-month decline

Raymond S. Hughes

Vauxhall cars are transported on a lorry in Luton, Britain March 6, 2017. REUTERS/Neil Corridor

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BERLIN, July 15 (Reuters) – Europe registered the least expensive quantity of new passenger vehicles in the month of June this 12 months considering that 1996 at just over 1.06 million vehicles, with some carmakers seeing product sales fall by virtually 50%, info from Europe’s auto affiliation showed on Friday.

Volkswagen Team (VOWG_p.DE) was the most difficult-strike major carmaker with just about a quarter significantly less profits than last June. Across the initial half yr, nonetheless, Stellantis has witnessed the major drop so far at 21.1%.

Among lesser models, Volvo’s (VOLVb.ST) new registrations fell 47.9% in June and 28.5% across the very first half of the 12 months, when Jaguar Land Team saw a lesser drop in June at 13.2% but the steepest hit this year so significantly at 34.7%.

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Inflation, provide chain bottlenecks, climbing coronavirus cases in some nations around the world and an ongoing chip shortage are just a number of of the troubles plaguing the auto market in the region, which has now registered 12 consecutive months of declines.

Major carmakers from BMW to Stellantis have in the latest weeks claimed falling gross sales globally ahead of their second quarter results afterwards this month.

All 4 of the significant European Union marketplaces – Spain, Italy, Germany and France – documented a decline in car or truck registrations.

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Reporting by Victoria Waldersee
Modifying by Miranda Murray

Our Requirements: The Thomson Reuters Trust Rules.

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