Despite early signs of a recovery in the industry, Europe’s new car market continues to decline as shown in the latest analysis from world provider of automotive intelligence, JATO Dynamics.
Overall, the European performance is 4.6% down on October 2009’s position.
Sales in Europe’s ‘Big Five’ markets of Great Britain, Germany, Spain, France and Italy are all showing negative growth while sales in Central and Eastern Europe have performed well.
Sales for eight of the top 10 brands in Europe were also down in October with only BMW and Audi showing year-on-year growth, up 6.3% and 1.4% respectively.
In terms of units sold, Volkswagen retains its place as Europe’s best-selling brand in October, with the Golf and Polo as Europe’s top two selling models.
Sales of large, premium models are growing despite the economic conditions. For example, sales of the BMW 5 Series were up 68% in October compared to last year, while the Land Rover Range Rover and Mercedes E-Class were up 40.8% and 12.7% respectively.
David Di Girolamo, head of JATO Consult, explains: “While a direct comparison due to last year’s Scrappage schemes is difficult, our data demonstrates the industry still has a long way to go in its recovery.
"What is encouraging, however, is that those markets that did not have Scrappage schemes last year are now showing increased sales, providing a glimmer of hope for the industry.”