EU New Car Sales Fell in March for the First Time Since 2014

   By Max Bernhard 
 

New car sales in the European Union fell in March for the first time since 2014, as demand started to slow in some markets and continued to slump in the U.K., according to data published Wednesday.

New car registrations, a reflection of sales, fell 5.3% to 1.79 million vehicles in March, said the European Automobile Manufacturers' Association, or ACEA.

The decline was also due to last year's record results resulting in a tough comparison base, ACEA said.

Demand in major EU markets slumped in the month, especially the U.K., where sales declined 16%. Sales in Italy fell 5.8% in the month, while Germany declined 3.4%. France and Spain posted slight growth, however, with sales in the two countries up 2.2% and 2.1%, respectively, the association said.

Most car makers' sales declined in the month, with Ford Motor Co. (F) sales falling 15% and Fiat Chrysler (FCA.MI) reporting an 8.0% decline.

Sales of French car maker Renault SA (RNO.FR) fell 3.2%, while peer Peugeot SA's (UG.FR) sales increased 60%, including volumes from German car maker Opel, which the French car maker acquired last year. Sales of Peugeot's namesake brand rose 1.4% in March, ACEA said.

Of the German car makers, Volkswagen AG (VOW.XE) was the only one to post a slight increase, as sales rose 0.3%. BMW AG (BMW.XE) sales slumped 5.8%, while Daimler AG's (DAI.XE) fell 3.4%, the association said.

Write to Max Bernhard at [e-mail]; @mxbernhard

(END) Dow Jones Newswires

April 18, 2018 02:14 ET (06:14 GMT)

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