Europe car sales lowest since 1996 after 12-month decline

Vauxhall autos are transported on a lorry in Luton, Britain March 6, 2017. REUTERS/Neil Hall

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BERLIN, July 15 (Reuters) – Europe registered the lowest number of new passenger vehicles in the thirty day period of June this year since 1996 at just about 1.06 million autos, with some carmakers looking at gross sales fall by virtually 50%, information from Europe’s car affiliation confirmed on Friday.

Volkswagen Team (VOWG_p.DE) was the toughest-strike major carmaker with virtually a quarter significantly less product sales than previous June. Across the very first half 12 months, nevertheless, Stellantis has found the most significant drop so significantly at 21.1%.

Among the more compact brands, Volvo’s (VOLVb.ST) new registrations fell 47.9% in June and 28.5% across the to start with 50 % of the calendar year, when Jaguar Land Group observed a lesser slide in June at 13.2% but the steepest strike this calendar year so much at 34.7%.

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Inflation, source chain bottlenecks, mounting coronavirus conditions in some international locations and an ongoing chip lack are just a number of of the troubles plaguing the automobile business in the location, which has now registered 12 consecutive months of declines.

Significant carmakers from BMW to Stellantis have in recent months documented slipping profits globally forward of their next quarter outcomes afterwards this thirty day period.

All 4 of the big European Union markets – Spain, Italy, Germany and France – claimed a decline in auto registrations.

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Reporting by Victoria Waldersee
Modifying by Miranda Murray

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