Euro Crisis

June Car Sales in Europe at 17-Year-Low

New registrations down 5.6 percent

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Passenger car sales in Europe continued to fall in June and hit the lowest level for the month in seventeen years as economic growth remained sluggish across the euro area, fueling unemployment and weakening households' purchasing power.

Registrations of new passenger cars fell 5.6 percent annually to about 1.13 million units, which was the lowest June level recorded since 1996, data released by the European Automobile Manufacturers' Association (ACEA) showed Tuesday. This followed a much worse 6.9 percent fall in May to a twenty-year low for that month.