European car sales see rise in August
New models, aggressive discounting and an extra selling day in key markets helped new car sales in Europe post a 7.5 percent increase in August. The Brussels-based European Automobile Manufacturers Association (ACEA) indicates that European car sales rose from 831'660 units a year earlier to 894'226 units in August 2005. For the first eight months of the year, sales amounted to 10.35 million units, just 0.5 percent lower than the level in the same period of 2004. German automaker Volkswagen, South Korea's Kia Motors and Munich-based premium automaker BMW contributed to the monthly increase. Despite strong August sales, weak sales so far this year have put a squeeze on carmakers already pressed by a strong euro and high raw material prices.