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The European Automobile Manufacturers' Association (ACEA) reported that in March, car sales in the countries of the European Union fell by 3.9% in annual terms to 1 million 722 thousand cars after declining by 0.9% in February. The fall in sales in the EU has been observed for 7 months already since autumn, when a new standard for determining fuel consumption for passenger cars and light commercial vehicles was set in the European market. In the first quarter, sales in the EU fell by 3.3% in annual terms to 4,333 cars. At the same time, Cyprus and Sweden showed the most significant rates of decline - by 53.4% and 18.7%, respectively. Volkswagen Group retained its leadership in the European market, increasing its share to 23.2% from 22.6%, although its sales decreased by 1.1% in annual terms. Despite their declining sales, the French automakers PSA Group and the Renault group have been able to increase their shares in the European market.
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
European shares fell earlier on Monday, weighed down by travel stocks after the U.K. placed a quarantine on travelers from Spain as the number of COVID-19 cases continue to surge. The pan-European STOXX index lost 0.5% at 0718 GMT. Meanwhile, ...
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