Advertisement
Canada markets close in 3 hours 20 minutes
  • S&P/TSX

    22,392.33
    +133.17 (+0.60%)
     
  • S&P 500

    5,203.71
    +16.04 (+0.31%)
     
  • DOW

    39,242.80
    +186.41 (+0.48%)
     
  • CAD/USD

    0.7306
    +0.0018 (+0.25%)
     
  • CRUDE OIL

    79.37
    +0.38 (+0.48%)
     
  • Bitcoin CAD

    85,403.15
    +175.96 (+0.21%)
     
  • CMC Crypto 200

    1,345.60
    +45.50 (+3.51%)
     
  • GOLD FUTURES

    2,340.10
    +17.80 (+0.77%)
     
  • RUSSELL 2000

    2,067.04
    +11.91 (+0.58%)
     
  • 10-Yr Bond

    4.4870
    -0.0050 (-0.11%)
     
  • NASDAQ

    16,336.65
    +33.90 (+0.21%)
     
  • VOLATILITY

    13.12
    +0.12 (+0.92%)
     
  • FTSE

    8,381.35
    +27.30 (+0.33%)
     
  • NIKKEI 225

    38,073.98
    -128.39 (-0.34%)
     
  • CAD/EUR

    0.6778
    +0.0002 (+0.03%)
     

Nissan, Volvo and FCA lead European sales decline

Vehicles are parked at a cargo terminal at Piraeus port, near Athens

PARIS (Reuters) - European car sales dropped 7.9% in June, led by bigger declines for Nissan <7201.T>, Volvo and Fiat Chrysler (FCA) <FCHA.MI>, according to industry data published on Wednesday.

Registrations fell to 1.49 million cars last month from 1.62 million a year earlier across the European Union and EFTA countries, the Brussels-based Association of European Carmakers said in a statement. Calendar effects resulted in two fewer sales days in most markets, accentuating the decline.

Registrations for the first half closed 3.1% lower, ACEA said. For European carmakers, weakening demand at home compounds the pressure from a sharper contraction in China and emerging markets that may yet bring more profit warnings.

Nissan's ageing model lineup contributed to a 26.6% June sales slump while Volvo Cars, owned by China's Geely, saw deliveries tumble 21.7%.

ADVERTISEMENT

Registrations also fell 13.5% last month at FCA, 10.1% at BMW <BMWG.DE>, 9.6% at Volkswagen Group <VOWG_p.DE> and 8.2% for both Mercedes parent Daimler <DAIGn.DE> and France's PSA Group <PEUP.PA>. The Peugeot maker's domestic rival Renault <RENA.PA> suffered less, posting a 3.9% decline.

(Reporting by Laurence Frost, editing by G Crosse)