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European car sales slump

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European car sales slump

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European car sales fell in June for the third straight month as the artificial boost from scrapping schemes across the continent faded.

New registrations in the EU dropped 6.9 percent to 1.34 million vehicles.

Industry figures show sharp declines in Germany and Italy.

Hardest hit among major brands was Fiat, with a 21 percent plunge, followed by Ford and Toyota.

Among the winners in June were Renault as well as GM’s Opel.

Ford recently forecast a drop in the European market of up to almost 12 percent this year.