Bank Of Baku

EU auto sales plunges 27% in January

EU auto sales plunges 27% in January
# 13 February 2009 16:24 (UTC +04:00)
Baku– APA-Economics. New car sales in Europe plummeted by 27% in January from a year earlier, sinking to the lowest level in two decades as the crisis ravages the auto sector, an industry association said Friday, AP reported.
The European manufacturers’ association ACEA said there were losses in all countries.
Germany remained the continent’s biggest seller despite a drop of 14.2%. Italy’s sales fell 32.6% and Britain’s 30.9%. Spain saw a 41.6% loss.
In recession-hit smaller nations like Iceland, sales crashed by a staggering 88%, in Latvia by 77.5% and in Ireland by 66%. France is the only major market to keep the losses in single digits with a decline of 7.9%.
Overall, the January figures announced Friday dropped below the million mark to 958,500 cars, the lowest level in two decades.
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