In August, European auto sales decreased 8.5%, for the 11th straight month, led by GM, Ford and Fiat which struggled in Germany, France and Italy.
According to the Brussels-based Association of European Automakers, in August 722,483 cars were registered in Europe, compared with 789,458 units in the same period last year. From January to August auto sales in this market fell 6.6% to 8.59 million cars. Among all automakers which had to face losses in Europe, Ford was the one who took the hardest blow.
Ford’s sales declined 29% year-on-year, therefore the automaker is seriously considering making factory cuts, despite the fact that it prepares to roll out new models, which will hopefully help the company stop the losses and the falling market share.
GM’s sales dropped 18% in August, and the automaker is also preparing to cut jobs and close a plant in Europe. All auto sales European markets were affected by the debt crisis, with one exception, Spain. Spain saw sales increase 3.4% as consumers hurried to buy cars before the September 1st sales tax increase. Sales in Italy were down 20%, in France 11% and in Germany, which managed to resist the European crisis for a long time, sales dropped 4.7%.