European car sales hit by slowdown

Slowing sales at Europe’s biggest carmakers, including scandal-hit Volkswagen, took the pace off growth in the market last month, as registrations increased at their slowest rate since May.

Passenger car registrations in the European Union rose 2.9 per cent year on year in October to 1.1 million units, meaning sales have risen more than 8 per cent in the year to date.

The sub-3 per cent growth was slower than the 9 per cent or more recorded in each of the previous four months.

VW’s October sales fell 0.5 per cent year on year, as the VW passenger car brand declined by 0.2 per cent.

The struggling Spanish Seat nameplate, also owned by VW, fell 11 per cent, but premium badge Audi rose 4.1 per cent. – Copyright The Financial Times Limited 2015