European car sales on the rise, but profits a concern

|By:, SA News Editor

Automobile sales in Europe rose 7.6% in February, according to the European Automobile Manufacturers' Association.

France was the only major market to show a decline in sales during the month.

Though sales momentum was strong across brands, analysts warn that the level of discounting was high enough to cut into profits in the sector.

Sales growth by automaker: Volkswagen (VLKAY) +8%, Peugeot (PEUGY) +3.6%, Fiat (FIATY) +5.6%, General Motors (GM) +12.6%, Renault (RNSDF) +11.7%, Daimler (DDAIF) +3.9%, Toyota (TM) +6.2%.