MADRID – Auto makers here generated a combined revenue of E38.5 billion ($55.3 billion) for 2010, up10.8% from 2009 levels, according data from ANFAC, the local manufacturers’ association. But the gain didn’t come as a result of the domestic market, which remains mired in a slump. “The earnings increase was due to the recovery of export activity to other European countries,” says ANFAC Director Luis Valero. However, most of the revenue gain may have had as much to do with increasing ...

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