VWAGY - European car sales down 7% in October on virus curbs

Passenger car sales in Europe slipped again in October amid new restrictions, stated the European carmakers’ association.Registrations of new cars declined by 7.8% to 953,615 units, as several European governments reimposed curtailments to battle resurgence of the coronavirus.Demand dropped by 21% in Spain, 9.5% in France and 3.6% in Germany. Only Ireland and Romania posted gains, at 5.4% and 17.6% respectively.From January to October, new-car registrations fell by 26.8% in the EU. Some 8M passenger cars were registered YTD, a decline of more than 2.9M units than 2019.Spain saw the steepest drop of (-36.8%), followed by Italy (-30.9%), France (-26.9%) and Germany (-23.4%).Italian-American mass carmaker Fiat Chrysler (FCAU) bucked trends with a 4% increase in sales, largely due to Jeep (+7.4%), while its future partner, PSA Group, sank by 6.6%.Volkswagen (VWAGY) registrations slumped 9%. The Group's luxury brands, Audi (+16.2%), Lamborghini, Bentley and Bugatti, showed net gains in sales, while

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European car sales down 7% in October on virus curbs