European car sales slow

Carlos Tavares, chief executive officer of PSA Group, speaks to members of the media following a news conference at the Vauxhall plant in Luton, U.K., on Wednesday, April 4, 2018. French carmaker PSA Group plans to end a venture between its Vauxhall brand and rival Renault SA that makes vans at a plant near London and instead use the capacity for its own output, people familiar with the matter said, as PSA tries to revive the U.K. car company it acquired last year. Photographer: Chris Ratcliffe/Bloomberg

FRANKFURT: European car sales turned in their weakest performance in the first quarter since an industry-wide contraction five years ago, as UK consumers’ apprehension over Brexit continued to erode demand in the region’s second-largest market.

First-quarter registrations edged up 0.6%, according to figures released yesterday by the Brussels-based European Automobile Manufacturers’ Association or ACEA. The gain was the slowest since the second quarter of 2013, when the region was in the throes of a downturn. A 5.2% downturn in March, led by drops in three of the five biggest markets – Germany, the UK and Italy – suggests that “momentum is starting to slow”, the ACEA said.