Slump in Europe vehicle sales spells gloomy 2013

Car sales in France, Spain and Italy fell last year to the lowest levels in years, with registration data for last month underscoring the challenges facing the broader European economy.

Carmakers are facing a sustained slump in the European market as the euro-zone debt crisis and austerity measures sap consumer demand.

"The new-car market continues to decline - a trait which we anticipate will continue through the course of 2013," Credit Suisse analyst David Arnold said.

He said European car sales were unlikely to grow this year.

via Business feed http://www.scmp.com/business/companies/article/1119217/slump-europe-vehicle-sales-spells-gloomy-2013