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9/18, 8:48 AM (Source: TeleTrader)
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Car sales in EU fall 8.4% year on year in August

The European Automobile Manufacturers Association (ACEA) said on Wednesday that 1.04 million vehicles were registered last month in the European Union for the first time. The measure of sales slumped 8.4% on an annual scale. The report's authors highlighted "the high base of comparison" as in August of last year the print for the 28-state bloc surged 31.2% as emissions standard WLTP was about to be established. Spain had the biggest drop, 30.8%.

In the first eight months of 2019, new registrations landed at 10.52 million or 3.2% below the level from the same period of last year, where Germany was the only relatively bright spot, adding 0.9%. The data showed a rise of 1.4% for July in the EU from 12 months before, to 1.29 million cars, also led by Germany (4.7%).

Looking at individual manufacturers, Nissan Motor Co. Ltd. had the biggest drop in August, 47.3% to 22,480 units. Volvo Cars, owned by Zhejiang Geely Holding Group Co. Ltd., advanced the most, 9.2% to 15,924 vehicles. Volkswagen AG, which has the largest share, expanded it to 27.4% from 27.2%, but posted a 7.7% decline in total to 285,894 units.

Breaking the News / IT