The prospects for the car industry
dd
No company or country has been immune from the collapse. Last month sales of cars and light trucks in America fell by 35.5% compared with a year ago (see chart 1). In France, despite government incentives designed to prop up the market, sales were down by 16%; in Spain they fell by almost half; in Japan by 22.3%. Even in Brazil and China years of double-digit growth turned into sharp declines in the last quarter of 2008.
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