European Car Sales Fall the Most in Decades, Signaling Slump [The New York Times]
Toyota Motor Corporation (TM)
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Source: The New York Times
FRANKFURT — European car sales went over a cliff in March, falling to their lowest level in at least 30 years, according todataMost of the previous available economic data dated from before the lockdowns began and is all but useless. Also, the car industry is a bellwether for overall economic growth in the European Union because it is a pillar of manufacturing and employs so many people — 2.6 million, or 9 percent of all factory workers in the bloc. Based on the March sales numbers, the outlook is not good.New car registrations fell by more than half from a year earlier, to 570,000 from 1.3 million, the European Automobile Manufacturers Association said. It was by far the worst March for auto sales since at least 1990. Comparisons before then are of limited value because Europe was still divided by the Iron Curtain.The new registration figures may be even worse than they sound. It was only around the middle of the month that most car dealers in Europe closed their doors, factories wen
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