European auto stocks were mixed Thursday after data from the European Automobile Manufacturers Association showed new vehicle registrations posting their first monthly fall for more than three years.
Volkswagen (VLKAY) , Peugeot (PEUGF) and Renault (RNSDF) were hit the hardest, with both registrations and market share figures falling during the month, while a contraction in German and French auto markets was the primary driver behind the decline of Continent-wide registrations
Volkswagen stock was down by around 0.4% in early trading, to €117.40 ($128.20), while Peugeot and Renault gained 0.1% and 0.2% respectively, to trade at €13.90 and €73.90. The sector as a whole rose on Thursday after falling from recent peaks during the Wednesday session.
Total car registrations fell by to 1.1 million units during October, the first monthly decline since September 2013, with French volumes down -4% and German registrations dropping by -5.6%. For the first ten months of the year, however, registrations grew by 7.2%.
VW Group saw its market share fall by 40 basis points to 24.7% during the recent month. Registrations for group cars were down 1.7% overall, driven by a 7.9% decline in registrations of Volkswagen brand vehicles. The Premium Porsche brand also saw registrations drop, this time by 11.9%.
Peugeot experienced a 7.2% fall in the number of new vehicles registered, with all brands under the group seeing a decline, although Citroen and DS cars led the fall. The group's market share was down by 80 basis points to 9.9%.