Monday, July 27, 2009

European Truck Sales Down Over 40%

Recession bites hard
Shipping News Feature

BRUSSELS - European new commercial vehicle registrations fell by 37.2 percent in the first six months of this year, according to European Automobile Manufacturers Association (ACEA).

Heavy vehicles over 16 tonnes saw the sharpest decline with a 46.6 percent drop in registrations across Europe in the first half of the year, whilst commercial vehicles over 3.5 tonnes registered were down 42.3%. Light commercial vehicles were down by 36.5%.

On Thursday, Scania reported a worse than anticipated crash in sales in the second quarter and said it expected demand to stay weak in the third quarter. Volvo had also posted worse than expected figures earlier in the week.