FRANKFURT – Fiat S.p.A., PSA/Peugeot-Citroen and Renault were among the automakers hit hardest as European car sales dropped in October amid poor economic confidence in the region.
Registrations in the EU and EFTA countries fell 1.4 percent to 1.04 million from a year earlier, industry association ACEA said on Wednesday. Ten-month sales declined 0.9 percent to 11.5 million.
PSA's new-car sales decreased 6.4 percent to 127,973 last month, while registrations at Renault fell 2.6 percent to 110,072. Fiat group sales including Lancia and Alfa Romeo slipped 10.2 percent to 68,630, with the core Fiat brand seeing a 13 percent drop.
PSA, Renault and Fiat "all suffered from exposure to the countries which underperformed, like Spain and Italy, with the product line at Fiat also part of the problem due to delayed launches," said Sascha Gommel, a Frankfurt-based analyst at Commerzbank.
"The next Fiat Panda is coming out next year, which should contribute a bit to volumes," he said.
Volkswagen Group sales rose 4.3 percent to 250,501, helped by growth at the autormaker's Audi, Skoda and core VW brands.
Ford, Korean brands grow
Hyundai and Kia saw sales rise 18 percent and 35.6 percent respectively, aided by the introduction of new models. Toyota Group sales fell 10.8 percent.
Ford Motor Co.'s volume grew 6.4 percent while GM Europe's sales, including the Opel/Vauxhall and Chevrolet brands, fell 3 percent.
Among Europe's top five markets, Germany, France and the UK registered increases while sales fell in Spain and Italy.
Download PDF above right for October and 10-month numbers by automaker and country.
Sources: Bloomberg; ANE staff