Photo: original image created by autoevolution
Blame overextended credit or the lack of radical, decisive action, but one thing is for sure - Europe’s economy is in the middle of a major slowdown, and the battle is long and drawn-out. This has affected new car sales in a major way, and last month demand dropped to a 14-year low.
Fiat, Renault and PSA Peugeot Citroen posted the biggest drops. What’s more, backbone countries like France and Italy, the second and third biggest markets for cars, both saw a 20 percent drop in demand.
Meanwhile, car sales in France dropped 23 percent to 197,774 vehicles, while Italian registrations dropped 27 percent to 138,137, according to Bloomberg News.
It wasn’t all bad news across the board, as demand in Germany rose 3.4 percent, while newer member states like Poland (8.6% increase) and Romania (a massive 29 percent increase) took turns for the better.
Meanwhile, car sales in France dropped 23 percent to 197,774 vehicles, while Italian registrations dropped 27 percent to 138,137, according to Bloomberg News.
It wasn’t all bad news across the board, as demand in Germany rose 3.4 percent, while newer member states like Poland (8.6% increase) and Romania (a massive 29 percent increase) took turns for the better.
Google News