Monday, October 4, 2010

Car sales slow in US, Europe

Car sales in the United States, Europe and Japan stayed stuck in low down gear in September, while emerging markets like India raced ahead.

he loss of government incentives to buy fresh cars in Europe and Japan led to steep sales drops from a year ago, but US sales bounced back from strangely low levels in September 2009, the month after the US cash for clunkers program expired.

The international auto industry's recovery from the financial crisis has been patchy and largely reliant on growth in countries such as China and India, as well as government subsidies and incentives to revitalize demand.

India's top automakers reported strong September sales, fueled by the country's robust economic enlargement, but car sales in Japan fell for the first time in 14 months in September after government incentives dried up.

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