European Auto Sales Have Worst May Since 1993

After one month of hope that things might be improving with sales increasing in April, this month's report from the European Automotive Manufacturers' Association shows that the European auto industry fell even further in May with sales of 1,042,742 cars, the lowest figure since May 1993 when fewer than a million cars were sold. It is also a 5.9% reduction in sales compared to May 2012.

From January to May of this year 5,070,840 cars have been registered in Europe, 6.8% lower than the same period in 2012. 

For May, the only major market that saw sales growth was the UK where sales were up 11%. For the other major markets compared to May 2012 France was down 10.4%; Germany was down 9.9%, Italy was down 8%; and Spain was down 2.6%.

For the period from January to May, the UK is also the only major European market to show growth with sales 9.3% higher than last year. France is down 11.9%; Italy is down 11.3%; Germany is down 8.8%; and Spain is down 5.8%.

If there is any good in this news, it is that it appears to not be having too adverse of an effect on automakers. European automakers like Volkswagen GroupVolkswagenGermany, 1938 > present98 models
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, BMW GroupBMWGermany, 1918 > present87 models
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, Mercedes-Benz CarsMercedes-BenzGermany, 1924 > present197 models
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and JaguarJaguarUnited Kingdom, 1922 > present53 models
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Land RoverLand RoverUnited Kingdom, 1978 > present15 models
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are up in sales for the year so far thanks mainly to the Asian markets.