Projo Cars Blog

LONDON - The car industry reeled from another day of grim headlines on Tuesday, with further news of production cuts and tumbling vehicle sales in Europe, Asia and Africa, according to Reuters.

As the global financial crisis makes consumers increasingly reluctant to part with cash and lenders unwilling to offer credit, carmakers across the world have struggled to find buyers to keep their production lines running.

New car registrations in Germany, Europe's largest car market, dropped 17.6 percent in November from a year ago, the VDIK association of foreign carmakers said on Tuesday, adding to a string of similar news across the continent on Monday.

It was the same story in Africa's top economy, South Africa, where new vehicle sales plunged 28.3 percent in the month.

In response to the downturn, Toyota, the world's biggest auto manufacturer, and Tata, India's biggest, both revealed new production cuts to avoid a build-up of unsold stock.

 Tags  auto industry Auto sales Tata Toyota

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