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backEUROtalk May, 2012

April 2012 West European Car Sales

For the seventh month in a row, the West European car market contracted in year-on-year terms, for April 2012 falling back 6.6%. Once again, many markets were lower as their economies continue to struggle. The selling rate did climb from the previous month but economic conditions in the region remain challenging and we retain our forecast that the market will fall to around 12.0 mn units for the 2012 full year.

The German car market came in with a solid selling rate of 3.4 nm units/year, as it continues to partially offset the results elsewhere. However, Italy is still struggling. For March, Italy’s selling rate dropped to a low of 1.2 mn units/year due to ongoing difficult economic conditions and an auto transport truckers strike. The April selling rate was a little better, at 1.6 mn units/year, though this is still very low by historical standards.

The Spanish market continues to look to be in a great deal of difficulty. A market contraction of over a fifth is just the latest in a long line of poor results, but worryingly, the selling rate fell below 700,000 units/year for the first time since the mid-90s. The latest jobless results make for grim reading too, with unemployment standing at 24.4%. This only compounds the country’s woes and the road to recovery is looking ever longer.

The French market was down a little in April, with this the first month of the year that isn’t being compared to the early part of 2011 when a spillover of scrappage registrations were still having a big impact on market results. The selling rate of just under 2.0 mn units/year is where we expect to see the market finish for the full year. The UK market climbed last month thanks to an improvement in private retail sales, with the overall selling rate climbing above 2.0 mn units/year for the first time in nearly a year. However, as elsewhere in the region, economic conditions remain very testing.

To download 3-page report with graphs, please click here.

Source: LMC Automotive - GAI

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