EU Car Sales Drop 14th Consecutive Month; Car Sales Plunge 20.1% in Italy, 20.3% in Spain, 19.2% in France, 3.5% in Germany, Rise in UK

From Mish's Global Economic Trend Analysis
December 15, 2012 - 11:58am

Car sales are up in the UK, but down 10% on average in the EU. Overall sales, including the UK, are down for the 14th consecutive month. From Google Translate Car sales plunge another 10% in Europe and UK only grows. In the markets of the European Union, in November, with the same computation of working days in November 2011, highlights the sharp rise of 11.3% for the UK, while other high-volume markets have reduced their records: 3.5% in Germany, 19.2% in France, 20.1% in Italy, and 20.3% in Spain. From January to November, the scenario is similar, with the UK as the only major market expansion (+5.4%) and Germany (-1.7%), Spain (-12.6%), France (-13.8%) and Italy (-19.7%) in contraction. The used passenger car market declined 5.6% These are dismal numbers with pronounced deterioration in Spain, France, and Germany. Mike "Mish" Shedlock

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