Economic recession might not have officially arrived – but the European car market is already suffering.Car sales in Germany, the continent’s biggest market, fell by 14 per cent in March compared with the same period last year. Italy and Spain had even bigger declines, with falls of 19 per cent and 28 per cent respectively, although the Spanish figure was influenced in part by the ending of scrapping incentives on older cars.Figures released by the European Automobile Manufacturers’ Association (ACEA) show that most mainstream makers have suffered from the decline; Ford posted a 12 per cent drop in sales, GM’s and VW’s figures both fell 13 per cent and Peugeot saw a 14 per cent dip.The figures will trigger alarm across the car industry, which is already suffering from over-capacity and profit margins that have been cut to the bone. New-car purchases are traditionally one of the first areas of consumer spending to suffer in an economic downturn.There was some good news in the report, though; Nissan posted an increase in sales on the back of the success of the Sunderland-built Qashqai, posting a 37 per cent year-on-year increase.
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Re: European car sales decline
Re: European car sales decline
I hardly think a couple of days holiday is going to affect sales that much. If someone wants a car they will buy a new car. Besides, your theory doesnt take into fact germany which isnt as religeous as italy and spain.
There is an economic turn down through out europe, you cant deny that.
Re: European car sales decline
In fact most Spanish car dealers work a five-day week (Monday to Friday). So there were a potential 21 working days in March - but there were two public holidays Good Friday and either the preceeding Thursday (Maundy Day) or Wednesday (San Jose). However a large percentage of the country had the whole of Holy Week off. Also there was a general election at the beginning of the month.