BUSINESS European car sales slide in January

BUSINESS

European car sales slide in January

AP

15:19, February 15, 2019

The European carmakers' association says new passenger car sales in the region dropped by 4.6 percent in January, weighed down by big declines in Spain and Italy.

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March 8, 2018 file photo photo Volkswagen cars are pictured during a final quality control at the Volkswagen plant in Wolfsburg, Germany. (File photo: AP)

Despite the drop, the association said Friday that the 1.2 million cars sold last month in the European Union marked the second-best January since 2009. It compared with 1.25 million a year earlier.

German manufacturer Volkswagen registered a 6.5 percent decline in sales, but maintained its dominant 24-percent market share. Italian-American carmaker Fiat Chrysler Automobiles saw sales decline 15 percent.

French carmakers PSA and Renault limited their drops to 2 percent and 0.7 percent respectively. Luxury carmaker Daimler saw sales drop 1.3 percent while BMW slid by 2.7 percent.

Demand dropped off by 7.5 percent in Italy and 8 percent in Spain.


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