Daily Digit: European Car Sales Fall

Europe's car market shrank a further 10.2 percent in February, with sales of new vehicles falling to 829,359, according to figures from the Association of European Car Manufacturers (ACEA).

Published

2 months ago

Categories

Finance, Technology

Topics

Finance, Auto

Places

Europe, United Kingdom

Companies

Ford Motor Company, Hyundai Corporation, Volkswagen Ag, Mazda Motor Corporation

Transcript

10.2 percent is today's daily digit - the amount Europe's car market shrank by in February. The Association of European Car Manufacturers says less than 830,000 new cars were sold. Ford's sales dropped at twice that rate for a third straight month. It's closing three European plants to stem the losses. General Motors and Fiat were the next biggest fallers, dropping 20% and 16% respectively. The industry is still reeling from a terrible 2012 - sales fell 8%. And mass-market manufacturers reportedly lost around $7bln in Europe last year. Sales at market leader Volkswagen reflected the overall trend. And only three brands - Hyundai, Mazda and Honda - managed to add sales. There was one other bright spot - UK sales rose almost 8%