European auto sector hits 17-year low | Bangkok Post: news

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European auto sector hits 17-year low

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European auto sales plunged to the lowest point for 17 years in 2012, trade data showed on Wednesday, revealing the dire state of the sector despite the global strength of German automakers. 

Employees work on a production line at the MCA Renault plant in Maubeuge, northern France on October 8, 2012. European auto sales have plunged to their lowest point in 17 years in 2012, trade data reveals after Renault announced the latest job cuts to hit the beleaguered sector.

The figures came only hours after French manufacturer Renault announced the latest job cuts and restructuring in the European car industry.

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