EU ADVISORY COMMITTEE WARNS RECESSION COULD PROMPT UNDER-CAPACITY IN EUROPEAN AUTO SECTOR
May 1st, 2009
BY KEITH NUTHALL
A KEY advisory body within the European Union (EU) has warned that UK and other European dealers may have to import more cars in future from Asia, north America and elsewhere, because it fears the recession may cause structural under-capacity amongst EU manufacturers.
The European Economic and Social Committee (a long established expert consultative group) has warned in a formal opinion that governments must not "equate structural problems with overcapacity alone."
It noted that Europe has already seen sharp reductions in manufacturing ...
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