European car sales lowest in 14 years - Gayo Lues
According to a statement issued by the Association of European Automakers (ACEA) on Wednesday, car sales in European Union countries plus Switzerland, Norway and Island slumped by 6.6 percent to 1.5 million vehicles in March, the lowest level since 1998.
March was the sixth consecutive month indicating reduction in European car sales.
Sales in France and Italy, Europe’s second and third-biggest auto markets were down 23.2 and 26.7 percent respectively.
Sales of Italy’s largest vehicle manufacturer Fiat tumbled 26.1 percent while France’s PSA Peugeot Citroen and Renault saw 19.4- and 20.6-percent reductions respectively.
In addition, Ford Motor Company’s sales in Europe fell by 7.6 percent, while Detroit-based General Motors Company, the world’s biggest carmaker, posted a 10 percent European registration decline.
Europe plunged into deep financial crisis in 2008 and the situation has continued to intensify in recent months.
The worsening eurozone debt crisis has forced EU governments to adopt harsh austerity measures and tough economic reforms, triggering incidents of social unrest and massive protests in many European countries.
MHB/MA
source: Presstv.ir – Europe News
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