Agence France-PresseJuly 16, 2013 04:32
German top-of-the-range car maker BMW expects demand for new cars in western Europe to shrink by 5.0 percent this year, its chief executive said in a newspaper interview on Tuesday.
"Overall, the market in western Europe will contract by around 5.0 percent this year and remains a huge challenge for carmakers," BMW chief Norbert Reithofer told the financial daily Boersen-Zeitung.
Furthermore, the situation could last until the middle of next year, he warned.
"Maybe we'll see a slight pick-up in the market during the second half of 2014," Reithofer said.