European Car Sales
"This is an alarm for the traditional automakers such as Mercedes. It says a smaller but smarter brand such as Tesla can beat them at home."
Just three months ago, as of April, the story was that the European car market registered its first gain in 19 months, consumer confidence was up "higher than average" and observers were hoping the month could be the first footstep in the trek to "legitimate recovery," even though Europe's four-month sales were down seven percent. The stats for June are a return to dark portents, with Jonathon Ramsey
Automotive News reports the European automotive market has posted first gain in 19 months. Germany and Spain helped push the swell thanks to higher-than-average consumer confidence, though the EU saw registrations jump two percent overall compared to the prior year. In April, buyers took home 1.08 million new vehicles, up from 1.06 mill
There is no denying that the European auto market is taking its lumps right now – just ask Peugeot – but Honda might be taking this downturn on the chin a little harder than some of the other Japanese automakers doing business on the continent. Automotive News Europe is reporting that things have gotten so bad for Honda that it will