European Car Sales Rise on Extended Scrappage Schemes
By Michelle Krebs March 16, 2010New car sales in Europe rose 3 percent in February to 1 million vehicles due largely to the return of Cash for Clunker-like programs in some countries.
Sales were up double digits in France, Italy, the United Kingdom and Spain where the programs were in effect. In contrast, sales in Germany fell 30 percent where the scrappage program had expired in late 2009.
A downturn in vehicle sales this year is predicted for Western Europe.
Toyota sales dropped 20 percent due to recalls. General Motors' Opel division continued to lose market share. Ford sales rose. BMW sales were up in Europe; Daimler's were down, mostly because of slumping Smart sales.
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