What is in this article?:
- European Auto Sector Hits 17-year Low
- Markets Vary by Country
New car registrations in the European Union fell by 8.2% from the 2011 level to 12.05 million units last year, the European Automobile Manufacturers' Association said, but the fall in Germany was just under 3%.
Markets Vary by Country
In some countries the market, and employment, were supported after the financial crisis hit economies in 2008 by government subsidies for the replacement of old vehicles with new ones but these schemes have run out and many European groups have announced job cuts and plant closures.
However the European trade data for the year showed big differences between countries. Car sales rose only in Britain, by 5.3% from the level in 2011.
In Germany, a fall in sales on the home market was contained to 2.9% but in France sales slumped by 13.9%, in Spain by 13.4% and in Italy by 19.9%.
In terms of brands, sales in Western Europe by PSA Peugeot Citroen fell by 12.9%, by Renault 18.9% and by Fiat of Italy by 15.8%.
Sales by Opel, based in Germany but owned by General Motors which has recovered strongly from bankruptcy, fell by 15.6%.
In terms of sales in Europe by foreign manufacturers, the South Korean group Hyundai-Kia( IW 1000 54) raised sales under the Hyundai name by 9.4% and under the Kia brand by 14.6%.
- Hugh Dent, AFP
Copyright Agence France-Presse, 2013