The European Automobile Manufacturers Association (ACEA) reported Wednesday that new vehicle registrations in the European Union rose 11.2% in March compared with new registrations in March of 2016. New registrations for the month totaled 1.89 million units, led by Italy with an increase of 18.2%, Spain (12.6%) and Germany (11.4%).
New car registrations have now posted year-over-year monthly increases for 31 consecutive months. For the first three months of 2017, new passenger car registrations are up 8.4%.
The top-selling maker in the EU is Volkswagen, which sold 403,289 vehicles in March, up 6.5% year over year for the month. VW’s market share for the month totaled 21.3%, down from 22.3% in March 2016 and down from 23.9% in February.
PSA Group, makers of Peugeot and Citroen, among other brands, and Renault Group each claimed a 9.5% share of the March 2017 market.
Of the Detroit Three, Ford Motor Co. (NYSE: F) sold 156,523 units in March, up 16.7% year over year for the month. The company’s March market share came to 8.3%, up from 7.9% in March 2016.
Fiat Chrysler Automobiles N.V. (NYSE: FCAU) increased its market share in the EU from 6.4% to 6.8% year over year led by a 16.8% increase in sales of the company’s Fiat brand. FCA sold 129,126 units in March, up 17.7% compared with March 2016.
Opel Group, the General Motors Co. (NYSE: GM) subsidiary in Europe until its sale to Peugeot is completed, posted a March market share decrease, slipping from 7.3% a year ago to 6.8% this year. Sales of the Opel/Vauxhall brands rose 3.4% year over year.
BMW Group’s market share in March also dipped year over year from 6.9% to 6.7%. The company sold 126,015 units last month. Daimler posted a market share gain, rising from 5.8% in March 2016 to 5.9% last month.
Toyota Motor Corp. (NYSE: TM) posted market share of 4.6% in March, up from 4.3% a year ago. Sales volume rose 19.2% to 86,216 units. The largest percentage increase came in the company’s Toyota division, up 20.5% year over year.
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
