EUROPE'S car industry is poised for a 10% fall in sales over the next three years as slowing economies, mass lay-offs and company profits take their toll on demand, according to a report published today.
The Economist Intelligence Unit's latest report, The New Car Market in Europe, said demand had peaked and forecast a 10% fall in new car sales volumes by the year 2001. That would result in 1.5 million units being wiped off the European car market from this year's expected sales level of 14.2 million units.
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