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Business News

New car sales nosedive in Europe

A dire month saw European new car sales slump 10 per cent in March and put the industry on course for its worst performance in 20 years, the European Automobile Manufacturers Association said yesterday.

The market is buckling under record unemployment across the eurozone as sales sank for the 18th month in a row. Germany took the biggest hit, with sales down 17 per cent last month.