Fiat, Ford and Toyota sales hit hard by the European market decline

Article by Christian Andrei, on February 17, 2011

For 10 straight months, Toyota Motor Corp., Fiat S.p.A. and Ford Motor Co. were hit by declines in European car sales as consumers slashed spending following the end of government incentives. Toyota’s European sales dropped 11 percent, Fiat had a 20 percent decline and Ford dropped 9 percent. ACEA, the European automakers association, recently said that registrations in the region fell 1.1 percent to 1.07 million vehicles in January 2011.

Buyers are now holding back after the end of government incentives used to encourage purchases during the worst of the recession.

Volume carmakers in Europe are being pressured to cut prices as overcapacity and falling sales have led to an oversupply of vehicles. Ian Fletcher, an HIS Automotive analyst in London, said that vehicle markets are still coming under pressure for various reasons – doubts about economies, payback from scrapping schemes and job security worries.

He added that Romania and Ireland are the only European countries still offering incentives. Sales declined in three of the top five markets, dropping 21 percent in Italy, 24 percent in Spain and 12 percent in the United Kingdom. France gained 8.2 percent and Germany gained 17 percent.

Europe’s biggest carmaker, Volkswagen AG, benefitted from the rebounding sales in its home market as Europe's largest economy grows. VW posted a 6 percent rise in January 2011 to 227,212 vehicles and its market share increased to 22.1 percent from 20.6 percent. [via autonews - sub. required]

Topics: fiat, ford, toyota, europe, sales

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Nikola Motor’s hydrogen-powered semi-trailer truck is highly appealing with its many advancements but don’t expect it to arrive in the near future. In November 2016, Toyota announced the possibility of...
by - December 5, 2016
Usually, it is up to resourceful spy photographers to take clear pictures of vehicle prototypes, especially those that have aroused a lot of interest. The same is true for Project...
by - December 5, 2016
The much-anticipated debut of the new Wrangler will surely happen. As it approaches, we’ve gathered all the latest information released so far. Of course, most are expecting that the next...
by - December 5, 2016
Nissan has announced the pricing for its new commercial pickup line. So for those who have been waiting for Nissan’s official price list (plus a little more info), read on… ...
by - December 5, 2016
Sorry folks, the AMG-fied Mercedes-Benz X-Class will remain in the fantasy world. According to some news, the AMG big boss has finally spoken up about why an AMG X-Class is...
by - December 5, 2016
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