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New car sales rise, except VW & UK

Friday, July 15, 2016 - 01:42

European sales of Volkswagen dipped in June, a month of rising demand in most large markets - except Britain, where sales fell for only the second time in four years amid Brexit-tinted economic uncertainty. Hayley Platt reports.

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New car sales continued motoring ahead in June. Registrations grew 6.5 percent according to the Association of European Carmakers. Most premium brands saw double-digit growth rates. But the biggest movers were Renault and Fiat Chrysler Italy and Spain also did well Germany too While France only managed a tiny increase. But Brexit Britain fell 0.8 percent - only its second dip in more than 4 years. (SOUNDBITE) (English) CITI EUROPEAN ECONOMIST, CHRISTIAN SCHULZ, SAYING: "With the Brexit referendum there is clear necessity for households to reassess their outlook in terms of the financial situation to them, the job situation in terms of generally the certainty about the future of the economy, and in such circumstances it's likely that households will postpone, especially larger big ticket purchases such as cars. So the car market is probably one of the sectors which could suffer from the post-Brexit uncertainty at least for some time." VW was also suffering as it grapples with the ongoing emissions scandal. Sales own-brand cars in June were down 0.6 per cent. Last month it reached a settlement with U.S. regulators and owners worth up to $15.3 billion over its 2.0 litre diesel vehicles But more recently it had a setback when California's regulator rejected VW's offer to recall thousands of 3.0 litre diesel cars. Other German brands Mercedes and BMW benefitted with double digit sales growth.

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New car sales rise, except VW & UK

Friday, July 15, 2016 - 01:42