Peugeot: stock hit after ACEA figures
(CercleFinance.com) - The Peugeot shown is down sharply this Morning (over 3.
5% at 11.30 am) after the publication of ACEA (European Automobile Manufacturers Association) figures.
Other stocks in the automotive sector are also down sharply (Valéo -6%, Renault -5.2%).
In April 2020, registrations of new passenger cars in the European Union collapsed 76.3% y-o-y across the automotive sector, the ACEA says.
With most EU dealerships closed over the entire month, the number of new cars sold in Europe fell from 1,143,046 units in April 2019 to 270,682 units last month.
Each of the 27 EU markets registered double-digit declines in April, while Italy and Spain suffered the biggest losses, with car registrations completely wiped out: -97.6% and -96.5% respectively, the ACEA says.
Regarding other major markets, demand fell 61.1% in Germany, while France contracted 88.8% in April.
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