Spain (-30%) Leads European Car Sales Decline (-18.8%) Last Month

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Car registrations in Europe (EU+EFTA+UK) fell by 18.8% YoY in March to 1.127 million units, according to ACEA data. Most countries in the region recorded double-digit sales declines, including the five key markets: Spain (-30.2%), Italy (-29.7%), France (-19.5%), Germany (-17.5%) and the UK (-14.3%). As a result, first quarter sales declined by 10.6% YoY in the region to 2.75 million units. All manufacturers suffered double-digit declines; Jaguar sales fell 52% YoY in March, followed by Stellantis with a contraction of 30.3% YoY. VW group sales were down 25% YoY, BMW 23% and Mercedes Benz 18%, while Renault group sales were slightly better with a total decline of 12.5%.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.