Photo: thehindu.com
New developments on the European market show that luxury brands are still suffering from the recent recession that hit the world and not only the old continent.
According to a new report from Bloomberg and numbers posted by the European Manufacturers Association, sales of the top 3 premium manufacturers in Germany went down in November by as far as 7 percent.
Unfortunately, the negative record was posted by BMW that seems to be taking a dive in European markets recently. Close behind it is Mercedes-Benz with a drop of 3.1 percent.
Actually only the Volkswagen Group and Renault posted growth in Europe last month, the first one selling 3.2 percent more overall (over all 4 brands owned) with the latter selling 8.9 percent more, mainly thanks to big sales recorded by Dacia with its Sandero hatchback.
The future looks better though, the last month showing signs of recovery. Overall, European car sales grew by 0.9 percent in November giving analysts some optimistic thoughts regarding the coming year.
Via: Bloomberg
Unfortunately, the negative record was posted by BMW that seems to be taking a dive in European markets recently. Close behind it is Mercedes-Benz with a drop of 3.1 percent.
Actually only the Volkswagen Group and Renault posted growth in Europe last month, the first one selling 3.2 percent more overall (over all 4 brands owned) with the latter selling 8.9 percent more, mainly thanks to big sales recorded by Dacia with its Sandero hatchback.
The future looks better though, the last month showing signs of recovery. Overall, European car sales grew by 0.9 percent in November giving analysts some optimistic thoughts regarding the coming year.
Via: Bloomberg
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