German car dealers are suffering from the steep discounts they're currently being forced to offer to win customers, and from price competition from southern Europe.
The world’s leading automakers have gathered in Beijing for its annual car show. German carmakers are expecting record sales this year as China’s consumers look West for quality and affordability.
The European Commission has continued its fight against collusion by imposing hefty fines on a number of European and Japanese producers of automotive bearings. The firms stood accused of long-term price coordination.
Last year, the German luxury automaker Audi sold more cars than ever before in company history. That record did not, however, translate into a higher profit as price cuts and development costs weighed heavily.
Britain’s biggest retailers have reported heavy falls in sales around Christmas amid rising competition in their home market. They lost market share to Germany’s Aldi and Lidl which saw booming seasonal sales in the UK.
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