New car sales in Europe dropped for the 13th month in a row in October, data released Friday showed according to dpa. The Brussels-based European Automobile Manufacturers' Association (ACEA) said new car registrations in the European Union totalled 959,412 in October, a drop of 4.8 per cent compared with the same month last year. The latest ACEA figures further underlined the grim state of the European car market, with auto makers struggling to reduce overcapacity in the face of weak demand. This has resulted in several vehicle groups launching moves to cut costs through a new round of restructuring. Leading the drop in registrations were nations at the centre of the euro debt crisis. While Italy posted a 12.4-per-cent slump, sales dropped 21.1 per cent in Spain. Registrations fell 19.1 per cent in Portugal, but posted a 1.8-per-cent gain in Greece, ACEA said. There was some positive news from the EU's leading auto markets, however.
