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WESTERN EUROPE
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The great escape |
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ANOTHER good turnout in October, with West
European car sales topping last year’s
exceedingly poor levels by a healthy-looking 15.8 per
cent, clearly supports the upbeat view that the
governments’ potent autoindustry stimulus packages
were evidently enough to reverse a nightmarish decline
in sales that first began during last year’s second
quarter. On the home straight, and more than three-quarters into a year that earlier displayed all the classical hallmarks of an annus horribilis, Europe’s autoindustry seems justified to reinstate previously cancelled staff Christmas parties. The reasons for a likely change in plans, following a severe austerity run aimed chiefly at cash preservation, are easily spotted. |
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