Car Sales Growth Slows in Europe

Sales of passenger vehicle across Europe expanded only 2% to 1.11 million units last month, trade group ACEA reports.

Overall volume was almost as great as in February 2008, just before the global economic crisis hit. But February’s anemic grow rate compares with 10% in January and 7% in calendar 2016.

February results were mixed among Europe’s five largest national markets. Volume fell in Germany (-3% to 243,600 units) and France (-3% to 161,900). Demand rose in Italy (+6% to 183,800 vehicles). Sales were virtually flat in Spain (97,800 units) and the U.K. (83,100).

Deliveries also were mixed for Europe’s carmakers. February sales slipped 2% to 256,700 units for Volkswagen Group, dragged down by a 7% drop for VW brand models. Sales also shrank for PSA Group (-3% to 117,900 units), Ford (-2% to 71,200) and Opel (-2% to 70,400)

But February volumes climbed at Renault (+7% o 114,800 units) and FCA Group (+9% to 88,100). Sales by BMW Group and Daimler each expanded 1% to 68,100 vehicles and 63,400 units, respectively.

Demand for Asian brands in February rose 6% to 220,400 vehicles, led by a 20% surge to 54,200 units for Toyota, according to ACEA.