The Economist (October 24)
2012/ 10/ 27 by jd in Global News
There’s no end in sight to Europe’s “carmaking crisis.” Sales have fallen for 5 straight years in the EU. In September, year-on-year sales were down 11% across the EU, 18% in France, 26% in Italy and 37% in Spain. “Britain was the only significant market to enjoy a small rise.” With production capacity of 17 million cars a year, and current demand around 13 million units, “the overcapacity is glaring.”
Tags: Automakers, Cars, Crisis, EU, France, Italy, Overcapacity, Spain, UK
