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Could Greece's rejection of loan deal impact auto sales in southern Europe?

2015-07-07 01:30:55| Auto Dealers - Topix.net

Greece 's vote to reject creditors' demands for more austerity in return for further rescue funds, and its pending plans to drop the Euro in favor of its old drachma may have a major impact on southern European auto markets, especially those controlled by Fiat Chrysler Automobiles and PSA/Peugeot-Citroen, which up until now has been seeing a rise in new car sales in Italy, Portugal and Spain, which now comprise about 12% of their sales volume. While Greece recorded 71,128 new-car registrations were recorded last year , Italian sales reached 1.36 million, while Spain reported that 855,300 cars were registered, and Portugal's posed sales reached 142,827.

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