European Car Sales Drop 5.6 Percent in June

New car sales in Europe suffered their worst June since 1996 with demand falling to 1.134 million vehicles, down 5.6% from the same month last year.

It brought sales for the first half of the year to 6.205 million cars, a 6.6% fall, the carmakers’ body ACEA said.

The UK was the only major car market to expand, with sales up 13.4% in June and 10% for the six months.

European car sales have seen an almost uninterrupted fall for two years, due mainly to recession in the eurozone.

They saw a small rise in April, but that was followed by a big fall in May.

The figures relate to the 27 countries in the European Union plus those in the European Free Trade Association.

Between January and June, sales in Germany fell 8.1% from a year earlier and in France they were down 11.2%. Spanish sales fell 4.9%, while Italy suffered a 10.3% decline.

via BBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

Latest posts by Alfonso Esparza (see all)