Car sales in the major European markets have suffered steep sales declines in September compared with 2009 after the loss of various government incentives keeps many buyers away from the showrooms.
Sales in Spain fell by 26.9% in September, the third month of double-digit decline following an end to Plan 2000E government scrappage incentive. While in France, sales of new passenger vehicles dropped 8.1% in September, and new car sales in Italy fell by 18.9%.
Industry executives in the European region have predicted the decline will accelerate as more state incentives for vehicle sales expire.
According to PSA/Peugeot-Citroen CEO Philippe Varin the drop may amount to 7%, making 2010 a “low point” for Europe’s car market.
Source: Automotive News