Credit crunch hits Euro car buyers
17 November 2008
- Europe hit harder than UK
- New car sales fall 54.6% in Ireland
- Euro market falls by 5.4%
The credit crunch is hitting UK new car sales hard, but if there is a crumb of comfort, it's that sales in continental Europe are falling more quickly.
New car sales in Europe fell by 14.5% in October, the sixth monthly fall in a row, according to ACEA, the European car makers' association.
Car sales in Ireland and Spain were the worst-affected, plummeting 54.6% and 40% respectively, in October. New car registrations in the UK were down by 23% for the same period.
ACEA's cumulative figures for the European car market, from January to October, show a fall of 5.4%, which has been blamed on the financial and economic downturn.
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