UK Car Sales Defy Crash In European Demand

Demand for cars in Britain shot up by over 11% in November compared with the year before - in contrast with a 10% crash across the European Union.

The European Automobile Manufacturers' Association said that last month just 926,486 new cars were registered across the region - the market's first double-digit contraction in more than two years.

France's Renault and Peugeot Citroen led the drop, which was Europe's fourteenth consecutive fall, as economic uncertainty continued to spread.

Sales at General Motors, Fiat and Ford also tumbled amid falling demand across the region.

The UK was the only significant car market to expand - with a total of 149,191 car registrations, compared with 134,027 in November last year.

All other major car markets declined, with Germany's sales down 3.5% and registrations in both Italy and Spain falling by over 20%.

Struggling Greece - where the eurozone debt crisis began in 2009 - marked a fall of 47.2%.

It comes as shares in Fiat were suspended on the Italian stock exchange, following a fall in its share price.

A newspaper in Italy reported that the carmaker is in talks with banks about raising capital to buy the 41.5% of Chrysler it does not already own.

Il Messaggero said Fiat was hoping to raise between one and two billions euros (£810m-£1.62bn).

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