These days I seem to spend quite a lot of time writing about the woes of the European car market, but the facts are stark and will have long-term consequences for car makers and tyre makers alike. A new report by analysts AlixPartners makes sobering reading. Even if the current decline in sales stabilizes, there may be no real pick up before 2019 and that on top of the 22% fall already experienced since the recession hit Europe in early 2008. Of course, it is the countries of Southern Europe which are worst hit and their plight cannot easily be compensated for by greater market resilience in Northern and Eastern Europe.
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