European January Car Sales Fall on Taxes, Consumer Confidence

European monthly vehicle sales dropped down in January, led by Toyota Motor Corp. and General Motors Corp., as concern that economies are slowing prompted consumers to cut spending and France imposed an emissions tax on larger cars. New car registrations declined 0.3 per cent last month to 1.31 million ones, the Brussels-based European Automobile Manufacturers Association said today in a announcement. Purchases in Italy and France, Europe's second- and third-largest markets, slipped 7.3 per cent and 5.6 per cent, respectively. German registrations rebounded 11 per cent. ``The global credit crunch, impacting spending and confidence,'' weighed on car sales, the association said. Sales at Toyota, the world's second-largest carmaker, dropped 11 percent to 75,801 vehicles. The Toyota City, Japan- based carmaker's European market stake declined to 5.8 per cent from 6.5 per cent. Registrations in Detroit-based General Motors region fell 8.1 percent to 124,219 vehicles, while its market share dropped to 9.5 percent from 10.3. Ford Motor Co., which ranks third in the region, recorded a 3.5 percent slide to 141,572 vehicles.