European Car-Market Drop Accelerates on Decline in Germany
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Europe’s car-sales contraction accelerated in February as a steepening decline in Germany, the region’s biggest market, hurt previously resilient Volkswagen AG, Bayerische Motoren Werke AG and Daimler AG.
Registrations dropped 10 percent to 829,359 vehicles last month from 923,553 a year earlier, the Brussels-based European Automobile Manufacturers’ Association, or ACEA, said today in a statement. Two-month sales fell 9.3 percent to 1.75 million cars. The decline in January amounted to 8.5 percent.