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Daily Digit: Europe's car slump

Tuesday, Sep 17, 2013 - 01:03

Sept 17 - A 4.9 percent fall in European car sales drags shares lower as investors take a back seat before the U.S Fed meeting. The drop was led by Peugeot Citroen, which lost ground to premium and Asian rivals. Ciara Sutton reports.

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4.9 percent is today's daily digit The amount European car sales fell by last month. Peugeot - one of many auto makers showcasing their latest models in Frankfurt this month - led the fall. The French firm saw an 18 percent drop in registrations, eroding its market share to 11 percent for the first eight months. It's lost more ground to premium and Asian rivals. France isn't the only country suffering - sales also slid in Italy and Germany, taking the European decline for the past 8 months to over 5 percent - that's the sixth straight year of declines. The slump dragged European shares lower in morning trade, with carmakers the biggest falling sector. Analysts are hoping to see demand pick up as the euro zone emerges from recession. And several German carmakers continue to buck the trend. BMW registrations jumped nearly 10 percent with Mercedes-Benz not far behind at 8.5 percent.

Daily Digit: Europe's car slump

Tuesday, Sep 17, 2013 - 01:03

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