European car sales keep on sliding
European new car sales fell 2.8 percent year on year in November due to the intensifying price war and the declines in major markets.
The Brussels-based European Automobile Manufacturers Association (ACEA) indicates that European car sales dropped from 1.203 million units a year earlier to 1.169 million units in November 2005.
Weak sales in the
UK,
Spain,
Germany and
France eclipsed an upturn in
Italy and contributed the second straight monthly decline in overall sales.
ACEA indicates that these results seem to confirm a stagnation of the market.
The November decline brought 11-month sales across
Europe to 14.15 million units, 0.5 percent decline compared to the same period of last year.
Manufacturers are also being squeezed by a strong Euro and high raw material prices that keep dragging on margins.