European car sales fall in October as new restrictions kick in
The European car market fell again in October having only recorded its first increase this year the month before, new figures today showed.
Last month sales of new cars declined 7.8 per cent to 953,615 units as governments across the continent began to impose new lockdown restrictions.
The figures, from trade body the European Automobile Manufacturers’ Association (ACEA), came as all but the Irish and Romanian markets posted declines for the month.
In the five major markets, sales in Spain and France fell by 21 per cent and 9.5 per cent respectively, while Italy, Germany and the United Kingdom registered more moderate drops of 0.2 per cent, 3.6 per cent and 1.6 per cent respectively.
Spain and France were among the first countries to put in place new lockdown measures, so the findings do not bode well for November’s figures.
For the year to date, sales of new cars are down 26.8 per cent across the bloc, an unprecedented decline in demand.
Among manufacturers, the BMW group was one of the worst hit last month, with sales down 11.8 per cent.
The Volkswagen group saw a decline of 7.5 per cent, while PSA – which owns Peugeot – recorded a 5.3 per cent fall.
Only Renault and the FCA group – which is preparing for its mega-merger with PSA – eked out small increases in sales.
In order to prop up the flagging market, governments across the continent have put in place new measures to save the car sector.
Germany will give the industry €3bn to spend in developing low-carbon vehicles, while France and Italy are both extending aid to help people buy new cars.
Last night UK PM Boris Johnson said the government would make available over £500m over the next decade to help people buy electric and low-emissions cars.