EU OPENS PUPLIC FINANCING COFFERS TO HELP EUROPEAN SECTOR RECOVER FROM COVID-19 BATTERING
April 2nd, 2020
THE EUROPEAN Union (EU) and its member states are loosening their subsidy rules and reviewing environmental controls as they consider how to help Europe’s automobile sector recover from the beating delivered by the Covid-19 pandemic. With EU passenger car sales tumbling 76.3% year-on-year in April (these figures exclude Britain, with a 97% fall), EU automobile industry association ACEA, parts association CLEPA, repairers and dealers’ federation CECRA and tire makers organisation ETRMA have called on the EU to “consider temporary flexibilities in ...
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