Car sales heading downhill

Car sales in Greece resumed their downward trend in June as they posted an 11.2 percent decline compared with the same month last year, the National Statistical Service (NSS) announced yesterday. The data released showed that the government incentives gave a boost to the market only in the month of May, when considerable growth in sales figures was recorded. In June there were 29,229 new cars on the road. Overall during the first six months of the year, the decline in the number of new cars sold in Greece reached a significant 29.4 percent relative to the same period of 2008. A total of 144,174 new cars were sold in the period January-June 2009. The picture was much the same regarding sales of motorcycles above 50 cc. In June they posted a 28.1 percent decline relative to the same month of last year and a 29.6 percent drop in the period January-June relative to the first half of 2008.