New Car Deliveries in Europe Drop 4%

Registrations of new passenger vehicles across Europe fell 4% to 1.77 million units in March and 3% to 4.15 million through the first three months of 2018, trade group ACEA reports.

All five of the region’s largest national markets shrank last month. Sales fell in the U.K. (-3% to 458,100 units), Germany (-1% to 345,500), France (-2% to 225,800), Italy (-10% to 193,700) and Spain (-4% to 122,700).

Demand in Europe also declined for almost all major European carmakers. Renault was the exception: Its deliveries rose 2% to 181,400 vehicles in March.

But March sales declined for Volkswagen Group (-1% to 412,000 units), PSA (-2% to 284,500) and Fiat Chrysler Automobiles (-12% to 106,700).

Results were mixed for Europe’s top luxury brands last month. Deliveries fell for market leaders BMW (-4% to 92,400 vehicles) and Mercedes-Benz (-15% to 87,300). But March sales rose for Audi (+3% to 91,600 units), Volvo (+3% to 36,700), Land Rover (+1% to 27,500) and Jaguar (+12% to 14,400).

ACEA reports that sales of Asian brands fell in March by 9% to 322,400 vehicles. Monthly deliveries climbed 17% to 20,000 units for Mitsubishi and were flat at 57,700 units for Kia. But demand receded for Toyota/Lexus (-3% to 82,700 units), Nissan (-29% to 55,200), Hyundai (-3% to 57,800), Mazda (-2% to 29,900) and Honda (-21% to 19,200).