European car sales fall back again

|By:, SA News Editor

European car sales dropped 4.9% on year in August to 686,957 units after rising 4.9% in July as new registrations fell in France, Italy and Germany last month. However, the U.K. again continued to enjoy growth, with volumes increasing 10%.

In January-August, European sales dropped 5.2%.

Peugeot (PEUGF.PK) had a particularly bad August as sales slumped 18%, with Honda (HMC) -19.6%, Fiat (FIATY.PK) -4.9%, Toyota (TM) -4%, Volkswagen (VLKAF.PK) -11%, Audi -6.4% and Ford (F) -0.9%,

BMW (BAMXF.PK) +9.9%, Daimler (DDAIF.PK) +5.5%, Renault (RNSDF.PK) +5.8% and GM (GM) +0.7%.

The data comes after car executives had expressed hope at the Frankfurt Motor Show that the European car market was stabilizing. (PR)

This was corrected on 09/27/2013 at 01:17 AM. Honda was given an incorrect ticker code.