Europe Automakers Brace for No Recovery From Crisis - Bloomberg

Europe Automakers Brace for No Recovery From Crisis - Bloomberg

High unemployment, especially among young people like Cervantes, has pushed many consumers out of the car market, making the slowdown stickier than if it were caused by shaky confidence. Sales in the European Union will probably fall to 12.2 million vehicles this year, the lowest level since 1995 and 21 percent below the 2007 peak, according to European auto industry group ACEA. A recovery to pre-crisis levels in the region isn’t likely until after the end of the decade, according to consulting company AlixPartners.
Read more: Europe Automakers Brace for No Recovery From Crisis - Bloomberg
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