June's AI-picked stock updates now live. See what's new in Tech Titans, up 28.5% year to date.Unlock Stocks

European new car sales down 24.1% year-on-year in June: ACEA

Published 07/16/2020, 02:31 AM
Updated 07/16/2020, 02:35 AM
© Reuters. The coronavirus disease (COVID-19) outbreak in Germany
MBGn
-
PEUP
-
RENA
-
BMWG
-
VOWG_p
-

BERLIN (Reuters) - European passenger car sales slumped in June compared to a year ago but showed an improvement since May with the easing of coronavirus lockdown measures across the region, industry data showed on Thursday.

In June, new car registrations dropped by 24.1% year-on-year to 1,131,843 vehicles in the European Union, Britain and the European Free Trade Association (EFTA) countries, statistics from the European Auto Industry Association (ACEA) showed.

In May sales slumped 56.8% on the year.

Sales fell in all European markets except France where they rose 1.2% in June thanks to government incentives for low-emission vehicles that were introduced at the beginning of the month.

Registrations in Germany tumbled 32.3% and slumped in Spain, Italy and Portugal with drops of 36.7%, 23.1% and 56.2% respectively.

Volkswagen Group's (DE:VOWG_p) sales decreased by 25.9% in June, while Renault (PA:RENA) and PSA Group (PA:PEUP) reported a drop of 16.3% and 29.6%, respectively.

Luxury automakers also posted a drop in June, with BMW's (DE:BMWG) sales falling 26.3% and rival Daimler (DE:DAIGn) down 19.2%.

© Reuters. The coronavirus disease (COVID-19) outbreak in Germany

In the first half of 2020, sales dropped 39.5% as the coronavirus lockdown across Europe took its tool on the industry.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.