Tuesday, April 15, 2008

Car registration falls 10% in Europe

Go to Financial Times original
New car registrations fell nearly 10 per cent in Europe in March in a troubling sign for both the industry and broader consumer confidence on the continent.

In an indication that more European consumers are deferring big-ticket purchases in the credit crunch, mass-market manufacturers all reported lower sales for the month. Most – including Volkswagen, Peugeot, Fiat, General Motors and Ford Motor – reported lower sales for the quarter.

The data, reported by the European Automobile Manufacturers’ Association (Acea) on Tuesday, have sobering implications for a sector facing falling sales in North America and tightening legislation on carbon dioxide emissions, projected to cost carmakers billions of euros in coming years.


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