European Auto Industry Slips to Its Lowest Levels Since 1990

European Auto Sales fell to 686,957 vehicles in August, down 5%, from 722,458 in August 2012. Sales from January to August were also down 5% to 8.14 million cars, which is the lowest level since 1990.

The fall in sales came as a surprise after sales in July increased by 5%. Part of the fall in August was attributed to there being one less business day than last year.

The biggest losers were VolkswagenVolkswagenGermany, 1938 > present98 models
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Group, which saw sales drop 11% in August, and PSA PeugeotPeugeotFrance, 1882 > present120 models
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-CitroënCitroënFrance, 1919 > present94 models
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, which saw sales down 18%.

BMWBMWGermany, 1918 > present87 models
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had the largest gain among major European automakers with a 10% growth in European sales. RenaultRenaultFrance, 1898 > present189 models
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was up 6% in August thanks to 16% growth for DaciaDaciaRomania, 1966 > present11 models
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and 2% growth for Renault

"German premium brands are coming down through the market while Hyundai is moving up through the segments, making life very difficult for those European volume brands rooted in the mainstream,” said Allan Rushforth, Hyundai’s head of European operations.

HyundaiHyundaiRepublic of Korea, 1967 > present79 models
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sales fell 5% in August, and KiaKiaRepublic of Korea, 1944 > present52 models
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was down 4%.

The UK continues to be the only major European market to show growth at 11%. Germany was down 6%; France was down 2%; Italy down 6% and Spain down 18%.

The lone bright spot for August was that 17 EU countries emerged from a six-quarter recession that may indicate future growth.

Source: Automotive News Europe