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

Article by Christian A., 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

Recommended

The BMW 7 Series is already highly sought after but nonetheless, the German marque is giving it a more exclusive variant for the Russian market, and they are calling it...
by - October 20, 2017
Several automakers including Porsche, Volkswagen, Smart and even Land Rover have all been victimized by cheap Chinese copycats. And if you haven’t seen it yet, the most recent one would...
by - October 20, 2017
The Mercedes-Benz G-Class has been around for quite some time now but to bid it farewell, the company has launched the Mercedes-AMG G65 Final Edition. Mercedes will only build a...
by - October 20, 2017
Have you ever wondered what you can you buy with $9,365 in your pocket? Well, you have quite a lot of options. In fact, you can even purchase a used...
by - October 20, 2017
The Audi A7 Sportback, whether you would like to call it a sportback or a four-door coupe, has always been a beautiful car. And this week, the 2019 model year...
by - October 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