Europe Car Sales Rise at Slowest Pace in 6 Months on Greek Woes

European car sales rose at the slowest pace in six months in May as buyers’ concerns about unemployment and the Greek sovereign debt crisis held back demand at Volkswagen AG and Renault SA. Registrations increased 1.4 percent to 1.15 million vehicles from 1.14 million a year earlier, the Brussels-based European Automobile Manufacturers’ Association, or ACEA, said Tuesday in a statement. Five-month sales rose 6.7 percent to 6 million autos.

The Organization for Economic Cooperation and Development cut its global economic-growth forecast in early June, in part because the risk of a debt default by Greece is making businesses wary of ...More information click here