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Europe's car market continues to shrink in October

Posted Nov 18th 2012 4:02PM

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VW Scirocco

Regarding the European car market, the news has been bleak all year. Auto sales on the continent have fallen by 7.3 per cent in 2012, but for October the drop wasn't as bad, at 4.8 per cent according to Automotive News Europe.

The UK managed to increase sales by 12.1 per cent, but other markets including Greece and Italy continued to show a weakening market for new cars. While many automakers saw double-digit drops (or close to it), Volkswagen saw sales dip by only .5 per cent, holding the automaker's spot as Europe's top-selling brand. Ford is Europe's second-best-selling automaker, and it saw a drop of 8.3 per cent in sales. One of the hardest hit automakers in October was Renault, whose sales plummeted 25.5 per cent over last year.

News Source: Automotive News Europe - sub. req.

Europe Still Papering Over Problems

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