Car sales drop across Europe

<p>Car manufacturers could be struggling in Europe.</p>

New data has shown the number of cars being sold in Europe is falling.

Figures newly released by the European Auto Manufacturers' Association showed 653,872 new cars were registered in August, but sales in Europe were down five per cent.

The UK was one of the only countries in Europe to post an increase in car sales last month, with a rise of 10.5 per cent recorded in the nation.

Tim Urquhart, an auto analyst at IHS Automotive, explained confidence is improving in the UK market, reports BBC News.

He said: "This bolstered confidence has combined with an ongoing very aggressive retail environment where dealers and manufacturers are offering extremely keen deals and incentives packages."

Hyundai Europe chief Allan Rushforth said in a statement that the "squeezed middle" are contributing to falling car sales across the continent.

Mitsubishi Motors recently (September 12th) saw its share price fall on the back of the news the company is considering the sale of new stock.

Learn about the Asian markets and CFD trading at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.