European vehicle sales fall 8th May 2003

Car sales in Western Europe fell sharply last month as a result of a number of different factors according to analysts at JD-Power LMC.

Western Europe bought 6.6 per cent fewer cars in April compared to a year ago, bringing sales for the year so far to just over 5 million units, down 3.8 per cent from the same period last year.

Industry experts say that the timing of the Easter holiday and weak demand in Italy were the major drivers behind the slump, appearing to rule out any downturn in consumer confidence as a result of the war in Iraq.

'I am skeptical about any large Iraq war impact on these numbers,' JD-Power analyst Charles Young told Automotive news.

'The results, which are in line with the previous months, simply reflect the deterioration of economic prospects in the regions which have yet to feel the beneficial impact of the fall in oil prices,' he argued.

Vehicle sales have been affected by weak economic conditions and subdued consumer sentiment across the globe this year, and manufacturers are bracing themselves for a yearly drop in sales.


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