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Carmakers Nissan, Volvo and FCA push European car sales declined by 7.9%

Carmakers Nissan, Volvo and FCA push European car sales declined by 7.9%
July 17, 2019
PARIS (Reuters) -  Triggered by bigger declines for Nissan (7201.T), Volvo and Fiat Chrysler (FCA) (FCHA.MI), European car sales dropped 7.9 per cent in June, says  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 aging 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.