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Stellantis and Hyundai Group posted steep drops in September new car registrations in the European Union, contributing to an overall decline as weakened demand continued in key markets.
Consumers in the core markets of Germany, France, Italy and Spain drove an 6.1% on-year drop in the bloc's monthly registrations, which reflect sales, the European Automobile Manufacturers' Association said Tuesday. EU registrations came to around 809,163 for the month.
Stellantis, the multinational company behind European brands like Peugeot, Citroen and Fiat, posted a 27% drop-off in registrations compared with last year. The Jeep and Ram maker was hampered in the third quarter by excess inventory in the U.S., while delays to new model launches also hurt shipments.
Registrations for Volkswagen, Europe's largest carmaker, rose 0.3%, ACEA said. German luxury brand BMW rose 7.6%, whereas Mercedes-Benz fell 7%. France's Renault saw new-car registrations fall 1.5%.
Battery-electric vehicle and hybrid-electric cars registrations rose 9.8% and 12.5% ,respectively, the industry group said. Sales of conventional gas-burning cars and plug-in hybrids both declined.
Consumers in the core markets of Germany, France, Italy and Spain drove an 6.1% on-year drop in the bloc's monthly registrations, which reflect sales, the European Automobile Manufacturers' Association said Tuesday. EU registrations came to around 809,163 for the month.
Stellantis, the multinational company behind European brands like Peugeot, Citroen and Fiat, posted a 27% drop-off in registrations compared with last year. The Jeep and Ram maker was hampered in the third quarter by excess inventory in the U.S., while delays to new model launches also hurt shipments.
Registrations for Volkswagen, Europe's largest carmaker, rose 0.3%, ACEA said. German luxury brand BMW rose 7.6%, whereas Mercedes-Benz fell 7%. France's Renault saw new-car registrations fall 1.5%.
Battery-electric vehicle and hybrid-electric cars registrations rose 9.8% and 12.5% ,respectively, the industry group said. Sales of conventional gas-burning cars and plug-in hybrids both declined.
