Credit Crunch Means Daily Operations Difficult to Finance ; Automotive

Summary

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European car sales slumped 8.2 per cent year-on-year in September despite two extra working days, as the fall-out from the financial crisis hit auto manufacturers hard, manufacturers' association ACEA said.

The credit crunch is hampering the automotive sector's ability to finance its daily operations and invest in new technologies for greener vehicles, it said.

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Credit Crunch Means Daily Operations Difficult to Finance ; Automotive

ACEA renewed a call to governments to help fund the development of fuel-efficient technologies and said capital expenditure by carmakers in the past decade had pushed them to...

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