European car sales fell last month as countries reimposed restrictions to contain the spread of Covid-19, snuffing out a short-lived recovery in demand.
New-car registrations dropped 7.1% in October, the European Automobile Manufacturers Associationsaid Wednesday. Aside from a small gain in September, sales have been in decline all year and are down 27% through the first 10 months.
France andthe U.K. locked down late last month and in early November, shutting car showrooms and pressuring sales further. Germany has pledged5 billion euros ($5.9 billion) of support to its automakers and struggling suppliers to help weather the crisis and come out the other side making more electric vehicles.
Registrations were slightly worse than Bloomberg Intelligence’s projection for a roughly 6% decline. Sales probably will fall about 5% this quarter and finish the year down at least 25%, analyst Michael Dean wrote in areport Tuesday.
158,453 in U.S.Most new cases today
+6% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23
-0.8837 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23
4% Global GDP Tracker (annualized), Oct.