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European car sales down 9.6% Jan 2013. VW Golf sales down 17.8%

Car sales in Europe continue to decline with sales down 9.6% in January 2013 and the top-selling VW Golf down by 17.8%. In fact, the UK was the only top five market to increase sales, with Germany down 8.6 per cent, France down 15.1 per cent, Italy down 17.6 per cent and Spain 9.2 per cent. Other notable drops included the Netherlands which saw a huge drop of 30.4 per cent, partly driven by tighter emission boundaries on company car taxation.

Mexico plant to build Honda Fit for U.S. market

Honda Motor Co. has confirmed it will build its Fit small car at its new plant in Mexico for export to the United States and other markets, as it expands its local production footprint to combat the Japanese yen's profit-eating strength. The plant, near Celaya, Guanajuato, will begin operation in 2014 with a capacity of 200,000 vehicles a year.

SCARCITY OF ECO CARS KEEPS VALUES HIGH

ACCORDING to the latest AA Fuel Price Index, petrol prices rose in January by the biggest amount in recent times. Although there is considerable Government lobbying to slow down fuel price rises, there appears to be no immediate respite for private motorists. With this continued pressure on family finances, leading vehicle auction company, British Car Auctions (BCA) is seeing a significant increase in buyers seeking the most fuel efficient vehicles which, in turn, is pushing up prices at auction.