Car sales hold up in Europe

Beijing News.Net
Saturday 17th May, 2008

New car registrations are up in Europe.

The European Automobile Manufacturers Associationhas reported a growth in new car registrations despite the US financial crisis and further increases in fuel prices.

New car registrations in April jumped 9.6% to 1.42 million vehicles, which made up for a 9.5% drop in March.

In the first four months of this year, registrations rose 1%, almost entirely thanks to growth in the new EU markets in Eastern Europe.

While there was a recovery in registrations in Germany, with Volkswagen and BMW posting profits, Italy weakened due to the poor economic outlook and an end to government incentives for drivers to scrap older cars.

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