“European car sales fell to a 20-year low in May as record joblessness caused by a recession in the euro area reduced demand at PSA Peugeot Citroen (UG), Renault SA (RNO), Fiat SpA (F)and General Motors Co. (GM) Registrations dropped 5.9 percent to 1.08 million vehicles from 1.15 million a year earlier, the Brussels-based ACEA said today. The figure was the lowest for the month since 1993. The ACEA compiles data for the 27-nation EU plus Switzerland, Norway and Iceland. Peugeot, Renault, Fiat and GM’s deliveries fell at least 10 percent in the region last month as price cuts failed to attract buyers.”

http://www.bloomberg.com/news/2013-06-18/eu-car-sales-fall-to-20-year-low-as-joblessness-at-record.html

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