Ford, Toyota and PSA Peugeot Citroen led European car sales to an all-time new low in January according to the Association of European Automakers. Registrations for new cars fall to 918,280 new cars, down 8.5 percent according to the report.
The decline is the biggest since the Brussels-based industry body started keeping records in 1990.
Ford, which is in the middle of cutting back its European production capacity by closing three plants due to stem regional losses, recorded a 26 percent sales decline. The company only sold 61,544 vehicles according to Reuters.
Ford stated last month that its annual loss in Europe, which is the company's second-biggest market after North America, could reach as much as $2 billion in 2013 according to The New York Times.
Peugeot and Toyota didn't fare any better, posting the second largest decline last month as sales dropped 16 percent.
"(The slide) confirms a weak start to 2013", Credit Suisse analysts said in a note to Reuters. "Hopes of an earnings and cash recovery in the second half are misplaced."
Despite weak sales in Germany, Volkswagen only saw their numbers drop 5.5 percent last month, a more modest decline compared to other companies. Audi also saw a small drop, as the company reported a 2.1 percent decline according to Reuters.
Some companies did succeed last month however, like South Korea's Kia, who posted a 7.7 increase compared to December. BMW and Mercedes-Benz sales also went up , posting a 9.4 and 4.7 increases, respectively.
The U.S., in comparison, has gotten off to a much better start in 2013, as sales increased by 14 percent compared to Jan. 2012.
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