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Posts Tagged ‘european auto sales’

Europeans Enjoying Sales Renaissance

Britain's sales dip ahead of Brexit vote.

by on Jul.19, 2016

European makers enjoyed another strong sales month in June, except for Great Britain where sales dipped slightly ahead of the Brexit vote.

The overall growth of new car sales in Europe Union, which have been a plus for global automakers this year, continued during June.

Passenger car registrations in the European Union during June have maintained momentum, helping towards a strong first half of 2016, according to the European Automobile Manufacturers Association.

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Registrations have increased by 6.9% year over year during the month to 1,459,508 units. Boosting the region towards an increase of 9.4% to 7,842,965 units during the first half of the year, IHS Automotive said in a new report. (more…)

European Car Sales Continue to Rebound in September

Europe's new vehicle renaissance rides incentive wave.

by on Oct.19, 2015

European car sales continue to rebound, posting a 9.8% gain in September over year-ago results.

Sales of new vehicles in Europe continued to expand in September with sales volumes once more rising by 9.8% year-over-year, according to the latest data published by the European Automobile Manufacturers’ Association, boosting year-to-date increase in sales to 8.8% year-over-year to 10.4 million units.

The result is welcome news for the continent, which had seen car sales drop sharply since the economic crash in 2008.

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The EU passenger car market recorded strong growth in all its major markets last month, with sales in the big-five European markets all recording growth, ranging from 4.8% in Germany to 22.4% in Spain. Spain and Italy benefited from low base comparisons and from the ongoing improvements that are resulting from increased scrappage and a gradual economic recovery. (more…)

Europe Back in Gear: Sales Grow for 18th Consecutive Month

But recovery likely to be slow, less than phenomenal.

by on Mar.17, 2015

Nissan-Renault's Carlos Ghosn expects the growth of auto sales in Europe to continue to slowly increase for some time.

European automakers have another reason to celebrate today, an industry group confirming that sales on the Continent rose in February, the 18th consecutive month of increased demand.

There is now general consensus that the European auto market’s worst recession since World War II has ended. But there’s far less agreement over the form the recovery will take.

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Expect to see “slow growth … for a long time, 2 to 3% a year,” forecast Carlos Ghosn, CEO of the Renault-Nisan Alliance, during an appearance at the Geneva Motor Show earlier this month. (more…)

China, Europe Expected to Push Auto Production Past 100 Million

New vehicle sales expected to hit 104 million by 2021

by on May.09, 2014

The Ford Mondeo is a strong seller in China, and the country is expected to help push global auto sales past the 100-million mark.

Since 2009, the production of new cars and trucks around the world has grown by nearly 25 million units, and one organization is predicting by 2021 it will rise by another 21 million units.

In 2009, there were 61.8 million vehicles produced, which was a 12.4% drop compared with the previous year. However, automakers have steadily seen sales rise to 82.8 million in 2013. That number is expected to hit 85 million this year.

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IHS Automotive predicts sales will break the 100-million unit barrier in 2018 before reaching nearly 104 million by 2021. (more…)

European Luxury Brands Riding US, China Sales

Off-continent sales insulate makers from tough environment.

by on Mar.19, 2014

The Bentley GT Speed convertible is one of several recent additions helping buoy the marque's sales.

European car sales were up for the sixth month in a row; however, that bit of good news comes on the heels of the market suffering its worst downturn in decades, which is to say oftentimes good news is relative.

February sales rose 8% in February to 861,058 units, according to European Automobile Manufacturers’ Association. It was still the second-worst February ever. In short, it’s getting better, but there’s still a long way to go.

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However, luxury automakers have been bustling along during the downturn as if nothing had changed from the European market’s heyday. (more…)

GM Pulling Chevrolet from Europe in 2016

Plan gives Opel one less competitor in market.

by on Dec.05, 2013

GM is pulling its Chevy brand from Europe, hoping to bolster sales for its Opel and Vauxhall brands.

General Motors is yanking its Chevrolet brand from most of Europe by 2016 hoping it will bolster sales for its Opel and Vauxhall brands. Russia and the Commonwealth of Independent States will still sell Chevy vehicles.

Chevy’s departure from Europe came in a surprise overnight news release. The brand has long been the dominant one for GM in its home North American market, but has had a less significant role abroad.

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In recent years, as German-based Opel had begun to fade, GM began looking to Chevrolet as a potential alternative. In fact, some analysts suggested GM might eventually abandon Opel entirely.  (more…)

Is There a Light at the End of the Tunnel for European Auto Industry?

Or is it another brush fire?

by on Sep.13, 2013

A crowd gathers at the Audi stand at the Frankfurt Motor Show. Automakers are hoping the big event will signal the end of Europe's worst car sales downturn in two decades.

With an estimated 70 all-new or significantly updated products and concept vehicles on display, the auto industry has big hopes for this month’s Frankfurt Motor Show – in itself a good sign considering the downright dour mood at other recent European auto shows.

It’s been a truly awful period for the Continental industry. Hammered by a devastating economic recession that came close to crushing the euro and even breaking up the European Union itself, car sales dipped to their lowest level in two decades during the first months of 2013.  But there have been signs of life this summer, particularly in the retail side of the market where not only are more customers returning to showrooms but they’re also spending more to opt up what they buy.

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“We’re about to see the end of five years of decline,” predicted Carlos Ghosn, the CEO of the Euro-Asian Renault-Nissan Alliance, during a news conference at the Frankfurt Motor Show.

His assessment was shared by a number of competitors. But while there’s a growing sense of light at the end of the tunnel, some skeptics continue to wonder whether what they’re really seeing is just another brushfire.


European Car Sales Plunge to 20-Year Low

Plenty of losers - but a handful of winners.

by on Jul.17, 2013

Emerging from the gloom? Land Rover was one of the few brands posting a sales upturn.

Despite hopes that the European market might have finally bottomed out, car sales for the first half of 2013 plunged to a 20-year low, according to industry data, with little sign that the downturn is about to reverse itself.

According to new data from the European Automobile Manufacturers Association, or ACEA, new vehicle registrations continued to slip with a decline of 6.3% in June, bringing total sales for the first six months of the year to just 6.44 million, a 6.7% drop.

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“Little will change until the middle of next year,” warned BMW CEO Nobert Reithofer in a German interview, predicting the market will be down about 5% for all of 2013. “Perhaps we will see a slight pick-up in Western Europe in the second half of 2014.”


European Car Sales Plunge to Their Lowest Level in 20 Years

Is the glass finally half-full?

by on Jun.18, 2013

Even with its European Car-of-the-Year, the Golf, Volkswagen took a sales hit last month.

With the continent’s economy still in free-fall, European car sales tumbled to their lowest level for May in two decades, according to the industry’s trade association.

Passenger car sales dropped 5.9% for the month compared to year-earlier levels.  At just 1.042 million vehicles, that’s the lowest recorded by the 27-country European Union since May 1993.  For the calendar-year-to-date, trade group ACEA reports EU sales are down 6.8%, to 5.07 million.

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With rare exception – sales actually rose slightly in April – the European auto market has been sharply sliding for the last half-decade, a situation worsened by the debt crisis that has threatened to plunge Portugal and several other countries into default and even lead to the demise of the common currency, the Euro.


Daimler Q1 Earnings Fall by Over Half

German maker slashes full-year forecast.

by on Apr.24, 2013

Daimler CEO Dieter Zetsche is under increasing pressure to deliver a turnaround.

Daimler CEO Dieter Zetsche is under increasing pressure to deliver a turnaround - fast.

Daimler AG suffered through another disappointing quarter as both earnings and revenues tumbled more than analysts expected during the January to March period, putting more pressure on the company’s top executive, Chairman Dieter Zetsche, to produce a turnaround.

The German parent of the Mercedes-Benz and Smart car brands scrapped its 2013 forecast after reporting first quarter earnings before interest and taxes, or EBIT, collapsed by more than half, to 917 million euros from 2.1 billion during the same period a year ago.

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“The company’s margins have collapsed,” observed one analyst during a conference call in which the company’s top executives discussed the quarterly report.

It was an observation senior management struggled to downplay during the call.