Automobile Industry Europe- Cash-for-clunkers lift Europe car sales
New car sales in western Europe rose for the second month in a row in July driven by cash-for-clunkers government bonus programs. Sales of new cars in western Europe rose five per cent last month in a year-on-year comparison to 1.22 million vehicles, VDA said in a statement, as state subsidies helped to offset the global recession. However eastern Europe continued to suffer. Turnover in the former communist states of the European Union fell 21 per cent compared to July 2008 as the economic crisis continued to whipsaw through the region.
In June, the European Automobile Manufacturers' Association (ACEA) reported a 2.4 per cent increase in new car sales in Europe, halting a 14-month decline. The VDA attributed the rise in turnover in July to "a stabilisation of conditions and several sales enticement programs."
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