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Scrapping schemes distort EU car sales


Scrapping schemes distort EU car sales


There was a massive variation in new car sales around European Union last month as various governments ended their scrapping schemes, intended to support the motor industry.

Overall sales fell 9.3 percent, but they plunged by 35.1 percent in Germany, where there are no more cash incentives for motorists to buy new cars.

They were down 11.5 percent in France where such payments are being phased out and rose by 44.6 percent in Spain where they continue.

Among manufacturers, VW whose main market is Germany saw sales fall eight percent, Renault’s were up 5.9 percent, while Fiat sold 22.7 percent fewer cars than in the same month last year as Italian sales fell 14 percent.

Carmakers have predicted a weak second half of the year; earlier this month the head of France’s PSA Peugeot Citroen, Philippe Varin, has said that he expected the European car market to shrink around nine percent this year in the difficult economic environment.

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