The sales of new cars in France fell 7.32% in October compared to last year. A sharp drop that worries Europe, as 10% of French employees work in the automobile sector.
New car sales in France fell 7.3 percent in October compared to the same period last year, producers said on Monday, in another economic signal that Europe is sliding into recession.
The motoring sector employs, directly or indirectly, 10 percent of the French workforce, and companies have ordered massive production cuts, with several plants temporarily shuttered and hundreds of workers sent home.
The European Commission warned on Monday that the EU economy is already in a shallow recession and growth will be close to standstill in 2009.
Date created : 2008-11-03