European auto sales decline in June, Nissan, Volvo & FCA led the doom


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European auto sales decline in June, Nissan, Volvo & FCA led the doom

On Wednesday, the 17th of July 2019, sales data on European automotive industry had revealed that car sales on June had slipped by 7.9 percent in Europe, led by declines of larger automakers, such as Nissan amid its diplomatic doldrum with France over a vying Nissan-Renault-Mitsubishi tie-up, China’s Geely-owned Volvo cars and Italian-American Fiat-Chrysler, while US President’s Trump’s threatening of hiking tariff on Europe-borne autos aimed at prompting them to open up manufacturing hub in United States appeared to have played a greater role, suggested industry analysts.

In point of fact, Brussel-based association of European carmakers had issued a statement on Wednesday (July 17th) saying that registrations for vehicles had fallen to 1.49 million from 1.62 million on a year-on-year basis in June across the Eurozone and EFTA countries, while registrations for the first half of the year had been down by 3.1 percent.

For the European car-makers, a sluggish demand at home had added to further strains on a sharply contracting market of China alongside emerging market over worries of a sharp recession risk ahead, while Nissan’s aging model’s sales had tumbled 26.6 percent, and Volvo cars’ owned by Chinese Geely had witnessed a slump of 21.7 percent in deliveries.

Besides, according to data released on Wednesday (July 17th), registrations fell for FCA by 13.5 percent, BMW by 10.1 percent, Volkswagen by 9.6 percent, while Mercedes-Benz-manufacturer Daimler and French PSA, both had experienced a drop of 8.2 percent in deliveries last month.