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European car sales suffer major slump

2016-11-17 10:05

BUCKING THE TREND: BMW was one of the few automakers to show growth in new European car sales. Image: Supplied

Milan - Earlier in  November, Wheels24 reported South African new car sales suffered a substantial decrease, October sales contracted by over 10% compared to the same month in 2015. 

A report says car sales in Europe have contracted, albeit only slightly, for the first time since rebounding from the industry's longest-ever slump.

First decline since 2012

The European auto manufacturers' association, ACEA, reported Thursday (November 16) that car sales declined 0.02% in October to 1.1-million units. That was the first October sales decline since 2012, during the industry's six-year crisis.

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Sales were down in two of the top markets, dropping by 5.6% in Germany and 4% in France. Italy grew by nearly 10% while Spain was up by 4% and Britain up by a modest 1.4%.

Among mass-market carmakers, Fiat Chrysler showed a healthy 7% growth, while larger competitors Renault, PSA Peugeot and Volkswagen all contracted. Luxury carmakers BMW and Daimler had boosts.

Read more on:    daimler  |  bmw  |  milan  |  car industry  |  industry news  |  new car sales

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