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New Cars Not Selling in Europe


An EU recovery is still a distant proposition. The latest evidence: New car sales in June were down 5.6 percent from last year, and new car registrations are down 6.2 percent from 2012. The FT reports:

June’s sales total was the lowest since 1996, but was marginally better than a 5.9 per cent slide in May to the lowest level for 20 years, a slump that has seen traditional volume manufacturers report billion-dollar losses and sparked a series of factory closures.

Car sales fell 4.7 per cent in Germany, 8.4 per cent in France and 5.5 per cent in Italy, according to ACEA. Peugeot CitroënFiat and GM saw sales fall 10.8 per cent, 12.6 per cent and 9.9 per cent respectively.

Experts expect this sales decline to continue through the year as massive economic and policy failures continue to ravage the world’s largest economic bloc. Like a deer in headlights, the European policy establishment remains immobile, frightened as the zone continues to melt.

[Fiat image courtesy of Wikimedia]

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  • Pete

    New cars not selling in Europe!

    How can it be otherwise given that Europe has plagued with a consistently record high unemployment?

    If things don’t improve, even bicycle sales will start to nose dive.

  • Jim__L

    Europe has failed to adjust its economic expectations to the reality of its economic productivity. Its populations expect a standard of living that the overall economy can no longer support.

    Debt-based government spending has provided a temporary solution, but as that solution can’t last forever, it won’t — and it’s stopping now.

    This is an inevitable result of Eurosocialist policies. Unless those policies are wound down, these countries will collapse one by one.

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