European Auto Sales Down by 32% in First 8 Months of 2020

The European Automobile Manufacturers Association (ACEA) reported that new registrations (a proxy for sales) in August fell by 18.9% year over year. For the first eight months of the year, sales are down 32% in the European Union.

While August’s sales decline was worse than July’s, it is far better than the year-over-year decline of 76.3% posted in March. Sales increased in just one of the 27 EU countries: Cyprus posted a gain of 14.1% year over year, from 639 sales in August 2019 to 729 in August 2020.

Among the EU’s major market, year-to-date sales have fallen by 40.6% in Spain, by 38.9% in Italy, 32% in France and 28.8% in Germany. The United Kingdom has seen a year-over-year sales drop of 38.9%.

Through the first eight months of 2020, U.S. new vehicle sales are down about 23%.

Of the Detroit carmakers that still sell vehicles in Europe, Fiat Chrysler Automobiles N.V. (NYSE: FCAU) saw its August market share there increase from 5.4% in 2019 to 6.2%. Unit sales totaled 47,989, down by 6.6% year over year. Sales of the Fiat brand slipped by 3.5%, while Jeep sales fell by 11.6%. For the year to date, FCA held EU market share of 6.3%, down from 7.0% in 2019.

Ford Motor Co. (NYSE: F) sold 40,385 units in August, a year-over-year decrease of 16.5% for the month. The company’s August market share rang in at 5.2%, up from 5.1% a year ago. For the year to date, Ford sales have fallen by 37.1% to 306,813 units, and the company’s market share dropped from 5.4% to 5.0%.

The top-selling automaker in the EU (excluding the United Kingdom) is Volkswagen, which sold 196,794 vehicles in August, down 24.3% year over year for the month, and market share also declined from 27.4% a year ago to 25.6%. For the first eight months of the year, VW sold 1.6 million vehicles in the EU, a decrease of 29.8% in volume.

PSA Group, makers of Peugeot and Citroen, among other brands, posted an August sales decrease of 20.1% to 110,112 units. The company’s market share dropped from 14.6% to 14.3% for the month and from 16.9% to 15.3% for the year to date.

Renault Group posted a volume decrease of 24.7% to 82,955 units in August, and its year-over-year share slipped from 11.6% to 10.8%. For the year to date, volume fell by 34.5%, while the company’s market share dropped from 11.9% to 11.5%.

BMW Group’s market share increased year over year from 5.2% in April 2019 to 6.9%. The company sold 52,965 units last month, up by 6.8% compared with March of last year. For the first eight months of 2020, BMW’s share has increased from 5.6% to 6.6%.

Daimler’s market share dipped last month 6.9% in August 2019 to 6.8% this year. Volume dropped by 20% year over year to 52,000 units. For the year to date, volume has decreased by 29.1% and the company’s market share has increased from 5.8% in 2019 to 6.0%.

Toyota Motor Corp. (NYSE: TM) posted market share of 5.9% in August, up from 5.0% a year ago. Sales volume fell by just 4.0% to 45,154 units. For the year to date, Toyota sales have dropped by 21.5% and its market share has increased from 5.8% to 6.0%.

Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.