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GM Europe blames credit crisis for sales decline

  General Motors’ car sales in Europe fell 1.9% to 1.6 million vehicles in the first nine months of the year, dropping its market share by 0.2 percentage point to 9.3%, it said on Thursday.


It blamed the credit crisis and inflation for seriously hurting consumer confidence. “We are facing an unprecedented set of economic challenges due to the global economic crisis,” GM Europe President Carl-Peter Forster said in a statement. (Reuters)