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Falling EU auto sales hit steel demand

Posted by:CYD Time:2012.07.18 17:35

   The European automotive components sector, notably those using steel, is continuing to face a tough year with domestic car registrations in the EU falling and with car producers showing no signs of recovery, underscoring the difficulties now facing the sector.

    Yesterday the French car maker Peugeot announced it was shedding 8,000 jobs and ceasing production at Aulnay near
Paris by 2014. The group’s production contracted by 18% in the first half of the year and it is facing a first-half loss of €700m

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