Newspaper article The Evening Standard (London, England)

Slowdown in European Car Sales Hits GKN Profits

Newspaper article The Evening Standard (London, England)

Slowdown in European Car Sales Hits GKN Profits

Article excerpt

Byline: Nick Goodway

THE dire state of the European car industry was laid bare today as registrations in September fell at their fastest rate for 12 months and a profits warning came from car and plane parts maker GKN.

Car sales across the European Union slid by 10.8% last month to 1.1 million vehicles, according to the Brussels-based industry group ACEA.

The eurozone crisis has left consumers unwilling to make major purchases. The worst-hit manufacturers are mass market marques such as Peugeot, Renault, Opel and Volkswagen.

The UK was the only country to show any real growth, with September sales up by 8.6%, thanks to the twice-a-year change of registration plates.

GKN warned: "Macroeconomic conditions have deteriorated in recent weeks and some softening in order books is evident, particularly regarding European automotive and industrial markets. Other automotive markets and the civil aerospace market are expected to remain solid. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.