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Ford Leads European Car Sales Drop as German Demand Falls

Bloomberg - Sep 18, 2012

Ford Motor Co. (F) led the steepest decline in European car sales in six months as the region’s economic woes hurt demand in Germany.

Industrywide car registrations fell 8.5 percent from a year earlier to 722,483 vehicles in August, the Brussels-based European Automobile Manufacturers’ Association, or ACEA, said today in a statement. Ford’s European sales dropped 29 percent, and the company accounted for 6 percent of the region’s deliveries compared with 7.7 percent in August 2011.

The European car market has shrunk for 11 consecutive months as governments grapple with a sovereign-debt crisis, and the ACEA is forecasting a 17-year low for full-year sales. Registrations in Germany, Europe’s biggest economy, fell 4.7 percent. Among the 10 companies that sell the most cars in the region, only Volkswagen AG (VOW) posted growth in August, as gains at its Audi and Skoda brands and the first-time inclusion of Porsche luxury models made up for a decline at the VW marque.

“Most of the market share Ford lost in Europe probably went to Volkswagen and Hyundai,” Daniel Schwarz, an analyst at Commerzbank AG in Frankfurt, said by phone. “But Ford is one of the strongest global manufacturers and has sufficient scale and engine technology, so they have the potential to turn this around, more than companies like Peugeot.”

Read Full Article from Bloomberg

- Posted: 2012-09-18 14:26:03

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