Automotive News Europe reports vehicle registrations in the European Union fell to 1.08 million in May. That's down from 1.15 million a year earlier and marks the lowest number for any May since 1993. General Motors, Peugeot-Citroen, Fiat, Renault, Ford, Volkswagen and Audi all saw sales fall off last month, though Seat managed to increase its sales by a relatively heady 13 percent. Currently, analysts are predicting that the European automotive market will continue to contract through 2013, though may show signs of rebounding by the end of the year. From there, it may be a further five years before EU car sales recover to their pre-recession heights.
In Germany, new-car registrations fell by 10 percent in May. France suffered a similar fall while Italy saw a decline of eight percent and Spain suffered a dip of three percent. The UK, meanwhile, saw registrations climb by 11 percent. EU heads of state are currently looking for ways to reverse the region's economic decline. Unemployment is now at 12 percent in the 17 countries that make up the European Union.
In Germany, new-car registrations fell by 10 percent in May. France suffered a similar fall while Italy saw a decline of eight percent and Spain suffered a dip of three percent. The UK, meanwhile, saw registrations climb by 11 percent. EU heads of state are currently looking for ways to reverse the region's economic decline. Unemployment is now at 12 percent in the 17 countries that make up the European Union.
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