Automakers’ sales deeply hit by European crisis in February

Article by Anita Panait, on March 15, 2012

The current European financial crisis seems to be having the harshest impact on the region’s carmakers, which are struggling to sell their new cars.  Included in those hit hard were Renault, PSA/Peugeot-Citroen and Fiat, as all of the posted double-digit drops in new-car sales in February, compared to just a nine-percent slump in the total European volume.

 As consumers tend to shy away from making costly purchases, there is a considerable drop in the number of registrations in the European Union and European Free Trade Association markets, experiencing a drop from 1,017,100 to 923,381 in February, the fifth straight month that car registration have declined, according to industry association ACEA. The drop was also the steepest monthly fall since a 16 percent fall in October 2010. Renault, including its Dacia brand, posted a 23.7% drop in new car sales to 86,402 vehicles.

PSA recorded a 16.5% slide in new car sales 118,381 units while the Fiat Group, including Alfa Romeo and Lancia brands, suffered a 16.5% stall to 66,249 vehicles. As the figures show, the outlook for industry sales in Europe looks bleak. According to Ford Motor Co., automakers face "extremely challenging business conditions" with customers worrying about the economy, making them shy away from showrooms.

Ford noted that industry sales are clearly well below 2011 levels, a reason that automakers should be very concerned about the market. There “a strong need for decisive actions to help bolster consumer confidence and improve demand," according to Roelant de Waar, Ford of Europe's marketing and sales.

Ford likewise is one of the victims of the current crisis, seeing its European sales drop 7.7% to 68,245 in February. GM’s Opel and Chevrolet units suffered different fates in February, with the former suffering a 19% fall and the latter benefiting from a 17.3% rise in sales.

However, Chevrolet’s gains failed to offset Opel’s losses, resulting to a 13.6 drop in GM’s overall sales performance in Europe for February.  The sales drop at Volkswagen Group was not as severe as its rivals, as the company -- including VW, Audi, Skoda and Seat – posted just a 2.1% fall to 220,799 units.

Topics: europe

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Remember Zenos Cars, a British carmaker that specializes in designing and building lightweight and high-performance sports cars? If you are wondering how the company is faring with their E10 lightweight...
by - January 21, 2017
Mercedes-Benz has revealed that in 2017, its series 124 coupé will be celebrating its 30th anniversary. While this itself is a significant event, it will also mean that this model...
by - January 21, 2017
BMW’s 550i xDrive has long been considered as one of the most successful business sedans in the world. For the brand, this may not be enough as it has officially...
by - January 20, 2017
Amazon is now moving beyond the four corners of online retailing. Only recently, the retail giant has been awarded a patent for its Road Network system. Since the patented technology...
by - January 20, 2017
The newest version of the Lamborghini Huracan is not a Superleggera, but a Performante. When Lamborghini filed for a patent for a new name, there were still debates whether this...
by - January 20, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries