European Car Sales Slump in November With No Sign of Rebound

(Bloomberg) -- European carmakers couldn’t shake the slump that’s shadowed them since September as new car registrations declined for the third month in a row -- adding fresh worries to an industry already facing declines in its largest market.

• Automaker shares fell after the European Automobile Manufacturers Association reported passenger-car registrations slid 8.1 percent in the in November from a year earlier. That dragged down year-to-date growth to 0.6 percent in the European Union and European Free Trade Association area.

Key Insights

Market Reaction

• The Stoxx Europe 600 Automobiles Index was down 2.2 percent as of 9:23 a.m. in Frankfurt. Daimler AG declined 2.2 percent, while BMW fell 1.9 percent. French carmaker Renault SA was down 3.1 percent.

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