UK: Rising euro, falling pound, puts squeeze on importers of European-made cars
European car makers selling in the United Kingdom are coming under pressure to cut the number of ‘special offers’ and discounts available for new vehicles as a direct result of the falling value of the pound sterling, used vehicle valuation specialist Glass’s Guide said. The euro has increased in value against the pound by about 17% since the end of 2002 and this is likely to force many manufacturers to either curtail promotional offers or increase the prices of their new cars, Glass’s claimed.
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