Car sales in Europe fell to a 20-year low in May, reaching their lowest levels since May 1993, according to data from a European car manufacturing group.
Sales fell 5.9 percent in the European Union from the year before, with about 1.04 million units sold. In May 1993, new registrations stood at less than 1 million -- making this month’s figures the worst since then, though they top 1 million.
For the year-to-date, too, 6.8 percent fewer cars were sold than in the same to first five months of 2012, according to data from the European Automobile Manufacturers’ Association.
The United Kingdom was the only European country to post growth for car sales in May, at 11 percent. Declines in car sales came from France, Germany and Italy, continuing trends from earlier this year.
Nat Rudarakanchana covers commodities and companies for the International Business Times. He is especially interested in precious metals, the food and drink industry, and...