Europe car sales sink for 7th straight month

New car sales in Europe are continuing to fall decreasing by 4 percent in March.

The European carmakers’ association ACEA, established in Brussels, said 1.72 million new cars were sold last month, down from 1.79 million in March 2018. Italy led all five leading markets in fall, using a double-digit fall.

The Volkswagen team acquired market share, catching 23.2 percent of earnings with a mild 1-percent fall. Shares of its own luxury brands were mixed, together with Audi up by 1.7 percentage and Porsche plummeting 19 percent.

French carmaker Renault was lonely one of mass carmakers in sales, up 2 percent, on the strength of its lower-priced Dacia marquee.

German luxury carmaker Daimler’s earnings plummeted by 13.3 percent. BMW earnings were down by 2.2 percentage.