European Car Sales Weakest in Five Years
- British demand plunges in first quarter as spending sags
- Three of top five markets in region post March sales declines
This article is for subscribers only.
European car sales turned in their weakest performance in the first quarter since an industrywide contraction five years ago, as U.K. consumers’ apprehension over Brexit continued to erode demand in the region’s second-largest market.
First-quarter registrations edged up 0.6 percent, according to figures released Wednesday by the Brussels-based European Automobile Manufacturers’ Association, or ACEA. The gain was the slowest since the second quarter of 2013, when the region was in the throes of a downturn. A 5.2 percent downturn in March, led by drops in three of the five biggest markets -- Germany, the U.K. and Italy -- suggests that “momentum is starting to slow,” the ACEA said.