Tuesday, April 15, 2008

Europe car sales hit by financial crisis

Toyota fared worst among individual carmakers

Go to Financial Times original
New passenger car registrations in western Europe tumbled by 10.2 per cent in March from a year earlier, the European Automobile Manufacturers’ Association (ACEA) reported on Tuesday.

The association ascribed the sharp fall to “economic uncertainty generated by the US financial crisis”. It also pointed to the early Easter holidays, which normally fall in April, resulting in three fewer selling days.

The slide in the European car market coincides with weakness in the US as well as Japan, leaving carmakers increasingly dependent on sales in emerging markets.


No comments: