Truth About Cars reports European New Car Sales Have Worst February Of The
The European new car market crashed in February. According to data released
by the European manufacturers’ association ACEA, new car sales were
down 9.7 percent in February. Two months into the year, car sales in the EU
are down 8.3 percent from the same period a year earlier.
The harmless looking percentages hide the fact that this February was the
worst of the millennium. Only 888,878 units changed hands in the EU27 in
February, the lowest level since comparing months made sense (going back
further is futile, the EU was much smaller then…) Even during carmageddon, European had not seen a February as bad as
EU basket cases Greece and Portugal saw their new car sales nearly halved.
These are relatively unimportant markets, by now,
tiny Luxemburg has more car sales than Greece. If Greece would leave the EU,
it would not even register in the car statistics. What hurts much more is the
deterioration of the volume markets. France is down 20.2 percent, not boding
well for PSA and Renault. Italy is down 18.9 percent, putting pressure on
Fiat. Flat sales in Germany spared Europe a double digit tanking.
I commend author Bertel
Schmitt for an excellent report. Click on the top link for model specific