Analysis of Sales of European Automobile Companies in June: Uncertain Future after Brexit

2019-07-31 15:30

According to Bloomberg, after the Brexit referendum in June this year, business and consumer confidence indices have been under pressure, leading to a slowdown in European car sales growth in June.

The Association of European Automobile Manufacturers (ACEA), an industry association, stated in a recent statement that last month the vehicle registration volume in the EU and European Free Trade Association markets increased by 6.5% year-on-year from 1.51 million vehicles in the same period last year. June was the 34th month of continuous growth in sales in the European market, although its growth rate has continued to slow down since March.

The growth rate of car sales in the first half of this year was 9.1%, with a total sales volume of 8.09 million vehicles.

Last month, stimulated by the growth in demand in the EU market, sales of Renault and Fiat Chrysler were boosted, while other Asian car brands and European luxury car manufacturers also achieved sales growth.

Among the top ten car manufacturers in the region, Renault experienced a high growth rate in June, driven by sales of its major brands, Captur, Kadjar, and Espace, with overall sales surging by 20% year-on-year.

Fiat Chrysler's vehicle registration increased by 13% year-on-year, mainly driven by sales of its Fiat brand (a year-on-year increase of 14%), which recently launched a new Tipo compact sedan. The sales of Jeep models increased by 16% year-on-year, making significant contributions to the sales promotion of Fiat Chrysler.

Among many Japanese car manufacturers, Toyota and Lexus saw a total year-on-year increase of 6.7% in sales, while Nissan's sales fell by 2.9%. Hyundai and Kia's sales have increased by 13% and 14% respectively.