Bloomberg News Agency reported that some companies, including Volkswagen and Ford, lost their share in the European market to Fiat Chrysler and NF automobiles, which attract customers with their distinctive sports cars. The agency showed that the growth of car sales is about to slow down after three years of consecutive gains, as many consumers have already bought new cars. April’s sales decline is the first decline since October, and was the lowest since 10 March 2013 when the European car market declined to its lowest level in two decades. He added that the European automotive market will benefit from the prospects for good economic growth, low unemployment, and continued decline in financing costs. The Association of Motor Manufacturers expected car sales in Western Europe to rise by 2.4% this year.

Source: Daily News Egypt May 23, 2017 06:33 UTC