Fiat was the only automaker to achieve growth in the third quarter this year, up 6.0 percent. This followed a 14.7 percent decline in Q2. Losses in shareholder value for other firms ranged from Peugeot’s 5.9 percent decline to Renault’s 13.1 percent dip.
Each company has specific reasons contributing to these setbacks. In Renault's case, for example, its significant stake in Russia’s largest automaker, AvtoVAZ, created concern in light of the potential impact of sanctions on the Russian market. VW, which fell 13.0 percent, was affected by recalls of more than 1.1 million cars in North America and China and the recall by its Audi subsidiary of 70,000 cars over brake issues. However, the biggest factor by far for the entire sector is growing concern that the long-anticipated recovery in Europe’s vehicle sales will be both slower and weaker than expected earlier in the year.
"The combination of model-specific recalls and macro concerns about the pace of recovery in a number of key European markets hit automakers hard in Q3," PwC Automotive Transaction Services Partner Jason Wakelam said. "This was despite overall volumes continuing to increase."