Incredibly, enthusiasm for the automobile continues to wane across Europe. For the 18th consecutive month, new car sales have declined, according to March new-car registrations. Sure, the macroeconomic picture isn’t pretty: unemployment is up across the Euro zone and renewed political turmoil over Cyprus didn’t help. But even Western Europe marked a first quarter drop of 10% over last year. In Germany, the financial anchor of Europe, new registrations plunged 17%. Has Europe lost its appetite for motoring, or simply that new car smell?
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