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Nissan, Volvo and FCA lead European sales decline

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Nissan, Volvo and FCA lead European sales decline
FILE PHOTO: Vehicles are parked at a cargo terminal at Piraeus port, near Athens May 20, 2015. REUTERS/Alkis Konstantinidis   -   Copyright  Alkis Konstantinidis(Reuters)
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PARIS (Reuters) – European car sales dropped 7.9% in June, led by bigger declines for Nissan <7201.T>, Volvo and Fiat Chrysler (FCA) <FCHA.MI>, according to industry data published on Wednesday.

Registrations fell to 1.49 million cars last month from 1.62 million a year earlier across the European Union and EFTA countries, the Brussels-based Association of European Carmakers said in a statement. Calendar effects resulted in two fewer sales days in most markets, accentuating the decline.

Registrations for the first half closed 3.1% lower, ACEA said. For European carmakers, weakening demand at home compounds the pressure from a sharper contraction in China and emerging markets that may yet bring more profit warnings.

Nissan’s ageing model lineup contributed to a 26.6% June sales slump while Volvo Cars, owned by China’s Geely, saw deliveries tumble 21.7%.

Registrations also fell 13.5% last month at FCA, 10.1% at BMW <BMWG.DE>, 9.6% at Volkswagen Group <VOWG_p.DE> and 8.2% for both Mercedes parent Daimler <DAIGn.DE> and France’s PSA Group <PEUP.PA>. The Peugeot maker’s domestic rival Renault <RENA.PA> suffered less, posting a 3.9% decline.

(Reporting by Laurence Frost, editing by G Crosse)

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