Rising discounts gnaw at European auto profits


By Madeline Chambers, European Auto Correspondent FRANKFURT, Nov 22 (Reuters) - European consumers' reluctance to buy new cars has forced automakers to offer free CD players, airbags and even cash rebates in a bid to bolster sales amid flagging demand, but the bargains bode ill for profits. Month-by-month incentives on new cars, which cost automakers five to 10 percent of their revenues, are creeping up as companies battle it out in Europe's declining car market. Figures published last ...

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