Painful Years Ahead

New car sales in Greece are showing no signs of rebounding despite three consecutive years of contraction. According to estimates from the country's autos association AMVIR, new car sales (including taxis) fell over 40% year-on-year (y-o-y), to 110,070 units, in the first seven months of this year, highlighting the severity of fiscal consolidation and the lack of household and business demand.

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