Auto sales seen rising despite Europe slowdown
Mar 12, 2013 | 12:08 PM
| Corinna Petry
CHICAGO Global automotive sales are expected to rise 3 percent this year even though the ongoing European debt and austerity crisis will continue to dampen demand in the region, according to an executive of an automotive market intelligence firm.
European sales are forecast to fall 2 percent to 17.6 million vehicles in 2013, Jeff Schuster, senior vice president of Oxford, England-based LMC Automotive Ltd., said at Platts 2nd Annual Scrap Seminar in Chicago. Western Europe in particular is facing a long recovery, with sales unlikely to rebound to 2007 levels until 2020, he said. ....
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