MILAN Nov 16 Europe's new car market shrank at
a slower pace in October than in recent months, but nearly all
major groups still suffered double-digit declines, as consumers
showed little inclination to make big-ticket purchases in a slow
New car registrations in the European Union dropped 4.8
percent last month to 1.00 million vehicles, data published by
Brussels-based industry group ACEA showed on Friday.
While October's decline was the second-smallest in a year,
mass market carmakers such as Peugeot, Renault
and General Motors' Opel, which have borne the
brunt of the downturn, are struggling to cut costs to survive
until consumers feel confident enough about the future to start
The ACEA figures showed even Europe's best-selling brand,
Germany's Volkswagen, posted a 0.5 percent dip in
sales to 127,793 cars.
So far this year, western Europe's car market has shrunk by
7.3 percent to 10,327,276 million vehicles, ACEA said, led by
double-digit declines in crisis-hit Greece, Portugal and Italy.
The UK was the only major market to post material growth in
October, up 12.1 percent.
Ford, Europe's second-best selling brand, saw sales
fall 8.3 percent to 72,330 cars, and GM's Opel brand in
third place shrank by 12.8 percent to 57,758.
Peugeot regained its place as the best-selling French brand,
selling 63,997 cars, or 4.5 percent less than a year earlier, to
Renault's 63,690, down 25.5 percent.