European Car Sales Decline to 14-Year Low as Economy Stalls

European car sales fell to a 14-year low last month, with Fiat SpA, Renault SA and PSA Peugeot Citroen posting the biggest drops, as the region’s sovereign-debt crisis caused economic growth to stall.

Registrations in the 27-member European Union plus Switzerland, Norway and Iceland fell 6.6 percent from a year earlier to 1.5 million vehicles, the lowest figure for March since 1998, the Brussels-based European Automobile Manufacturers’ Association said today in a statement. First-quarter sales dropped 7.3 percent to 3.43 million vehicles.