- European car registrations dropped 5.7% in July and were down 18.9% in August, according to a new release from the European Automobile Manufacturers’ Association.
- In August registration drops of more than 20% were seen for Volkswagen (OTCPK:VWAGY), PSA Group (OTCPK:PEUGF) and Renault (OTC:RNSDF). Hyundai (OTCPK:HYMLF) and BMW (OTCPK:BMWYY) were the two big market share winners with gains of 1.9% and 6.8%, respectively. The chart below is from EAMA.
- On A YTD basis, European Union demand for passenger cars contracted by 32.0%. Among the EU's largest markets, Spain saw the biggest decline (-40.6%) so far this year, followed by Italy (-38.9%), France (-32.0%) and Germany (-28.8%).