This page has been archived and commenting is disabled.

Chart Of The Day: Europe's Decimated Car Market

Tyler Durden's picture





 

European car registrations had their worst January on record - an 8.7% year-over-year decline - as consumers hit by austerity are likely to continue to limit spending on big-ticket items. The Association of European Automakers notes the 918,280 new cars ('tagging' aside) is the slowest January since 1990 and makes the 16th consecutive month of year-over-year drops, as perhaps past car-scrapping schemes may also have hampered sales by encouraging buyers to bring forward planned purchases. During the Great Recession, European auto sales only fell 12 consecutive months. The weakness is broad based with Ford (a record 26% plunge), Peugeot Citron (down 16%) and Toyota (down 16%) as it seems the hopes and dreams of a troughing in the European economy has absolutely not shown up in the car industry. As Reuters reports, citing a CS analyst, "Hopes of an earnings and cash recovery in the second half are misplaced."

European Car Registrations are down YoY 16 months in a row (lower pane) and fell to the lowest January in record (upper pane)...

Via ACEA,

Looking at the major markets, only the UK posted growth (+11.5%), while downturn prevailed in Germany (-8.6%), Spain (-9.6%), France (-15.1%) and Italy (-17.6%). In absolute figures, Germany remained the largest market with 192,090 new registrations, followed by the UK (143,643 units), France (124,798) and Italy (113,525). Spain registered 49,671 new cars, which was slightly less than Belgium (50,684 units). 

 

Via Reuters,

...

 

After falling to a 17-year low in 2012, European car demand is expected to contract further this year, squeezing mass-market brands still harder between excess capacity and cut-throat pricing. Most carmakers see the regional market shrinking between 3 and 5 percent in 2013.

 

Tentative hints of a broader euro zone economic upturn have yet to percolate to the car industry.

 

Germany in particular is weighing on the outlook. After resisting much of last year's slump, Europe's biggest car market is in sharp decline, extended by an 8.6 percent drop in January.

 

...

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 02/19/2013 - 10:45 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Long bikes and sharecropping...

Tue, 02/19/2013 - 10:52 | Link to Comment kliguy38
kliguy38's picture

Exactly.....you're witnessing a historic collapse of the developed world disguised as a "recovery". How's that for cognitive dissonance. They have built this bubble to smash it in a spectacular fireworks display. The green glass finale will be the final act if the peeps don't catch on......and they will not. The Grand Supercycle collapse will leave very few untouched.......enjoy your LV bags.

Tue, 02/19/2013 - 11:11 | Link to Comment Ying-Yang
Ying-Yang's picture

EU just needs to start channel stuffing

Tue, 02/19/2013 - 11:32 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

I assume you're being ironic/sarcastic?  Ah yes, Channel Stuffing:  The fine art of making your sales problem someone else's sales problem?

Tue, 02/19/2013 - 11:14 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Stop it.  The "flation" debate is moronic with high youth unemployment and folks unable to put food on their tables.

Tell me, what is the "price" of something you need to survive, but that I refuse to sell?

So many paper fucking promises, show me the motherfucking collateral bitch.

Tue, 02/19/2013 - 11:16 | Link to Comment Sudden Debt
Sudden Debt's picture

As Obama would say:

YOU DIDN'T PUT THAT BREAD ON THE TABLE BY YOURSELF!!!

SOMEBODY ELSE WILL BE PAYING FOR IT!!

 

Tue, 02/19/2013 - 11:29 | Link to Comment Mrmojorisin515
Mrmojorisin515's picture

In a way he was right if you think about it.  Think of all the hardcore rush limbaugh listening republicans that think they are self made when they have a company that recieves some sort of government largess.  I remember listening to talk radio back when i still listened to it, and some guy ranting about welfare when he owned a daycare center........which got lots of money from the government.  But he was self made..........

Tue, 02/19/2013 - 11:44 | Link to Comment Lucius Corneliu...
Lucius Cornelius Sulla's picture

There are a lot of businesses that made it on the largess of BIG government.  Buffet is one of them.  He made a fortune following government spending in banks (WFC), mortgages (FNM) and insurance (which has numerous tax loopholes).  Then there is the MIC and its plethora of businesses that supply goods and services to it.  Problem is, the defense sector is parasitic by its very nature.  It can only be sustained long term by a vibrant producion based economy.  But I'm rambling now.

Tue, 02/19/2013 - 12:08 | Link to Comment El Viejo
El Viejo's picture

Offered up as Chart Porn only. I don't have a horse in the Flation race. At Peak Oil and Peak Everything related to oil and Emerging Markets and Central Bankers fighting Deflation with Inflation the Flation Argument becomes a Local Phenomenon, whereas Prices are Globally or CB induced. It's a Global Village now and the Earth ain't getting any bigger. With every country dealing with its own problems "Currency Manipulator" accusations are starting to fly.

Tue, 02/19/2013 - 11:13 | Link to Comment Sudden Debt
Sudden Debt's picture

AT LEAST NOT EVERYBODY IS DOING BAD!!!

FERRARI SALES ARE THROUGH THE ROOF!!!

http://www.reuters.com/article/2013/02/18/ferrari-sales-report-idUSnPnNY61722+160+PRN20130218

BEST YEAR IN HISTORY!!! HOW'S THAT CRISIS GOING FOR YA SLAVES??!!

 

Wed, 02/20/2013 - 02:30 | Link to Comment pitz
pitz's picture

motherfucker

Tue, 02/19/2013 - 11:39 | Link to Comment Hobbleknee
Hobbleknee's picture

What do you expect from a continent that hates cars and has member states like Denmark that charge over 200% tax on car sales?

Tue, 02/19/2013 - 10:46 | Link to Comment nobusiness
nobusiness's picture

Pent up demand, Bullish of course BTFD

Tue, 02/19/2013 - 11:23 | Link to Comment Peter Pan
Peter Pan's picture

Just change the definition of cars to include bikes. Watch the miraculous recovery take place in a split moment.

Today 's stock market performance is sheer provocation of common sense. So be it, we will endure this insult as well as we wait for the moment of truth.

Tue, 02/19/2013 - 10:46 | Link to Comment SheepDog-One
SheepDog-One's picture

Can't European gubmints just 'GM' all their car companies and take them over in modern fascist style like the USA?

Tue, 02/19/2013 - 11:06 | Link to Comment insanelysane
insanelysane's picture

I believe that is what we call Plan B.

Tue, 02/19/2013 - 10:46 | Link to Comment thismarketisrigged
thismarketisrigged's picture

and with this news, europe goes higher. what a fucking joke.

Tue, 02/19/2013 - 11:31 | Link to Comment SheepDog-One
SheepDog-One's picture

FRESH NEW HOPIUM for everyone!

Tue, 02/19/2013 - 10:48 | Link to Comment Id fight Gandhi
Id fight Gandhi's picture

It's odd that USA sales are reporting higher yoy even when gas prices are spiking. And they say, they're not buying hybrids, big ol trucks.

Tue, 02/19/2013 - 10:50 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

That's because America is number fucking one!!! Woooooo!

Tue, 02/19/2013 - 10:59 | Link to Comment Sudden Debt
Sudden Debt's picture

Is this about that Body Mass Index thing again?!

Tue, 02/19/2013 - 10:57 | Link to Comment Sudden Debt
Sudden Debt's picture

That's because those trucks are MADE IN THE OLD U S OF A!! and they break down and turn into cheesecake after a few years....

Tue, 02/19/2013 - 11:36 | Link to Comment Super Broccoli
Super Broccoli's picture

don't worry, soon enough nobody will need to commute to work :-)

Tue, 02/19/2013 - 10:48 | Link to Comment q99x2
q99x2's picture

Time for Germany to start building tanks.

Tue, 02/19/2013 - 10:49 | Link to Comment Jason T
Jason T's picture

 yeah, but how many bicycles are they selling?  Bullish on Huffy!

Tue, 02/19/2013 - 10:53 | Link to Comment Sudden Debt
Sudden Debt's picture

IT'S BECAUSE OF THOSE GERMAN CARS!!!!

CARS AREN'T INTENTED TO LAST MORE THAN 4 YEARS!!!

DAMNED THAT FAILED CORROSION!!!

WTF HAPPEND TO THOSE DAYS WHEN EVERYBODY BOUGH A FORD EVERY 3 YEARS????!!!???!! SIMPLY BECAUSE THEY HAD TO BECAUSE HALF OF THE CAR WOULD BE ALREADY GONE!!!

Tue, 02/19/2013 - 11:31 | Link to Comment Joe Davola
Joe Davola's picture

I want to say one word to you, just one word:  Plastics!

Tue, 02/19/2013 - 13:02 | Link to Comment _ConanTheLibert...
_ConanTheLibertarian_'s picture

Just recently bought a 26 year old Toyota with relatively low kilometres and little rust. Pay virtually no taxes 'caus it's an oldtimer. Easy to fix and won't brake down anyway.

Starve the beast bitches!

Tue, 02/19/2013 - 10:53 | Link to Comment Sudden Debt
Sudden Debt's picture

I even heard from a guy who knows a guys who has a friend who has a car WITH MORE THAN 100K MILES ON THE COUNTER!!! IMAGINE THAT!!!

Isn't everybody supposed to buy a new car when you're due for a oil change?

 

Tue, 02/19/2013 - 10:59 | Link to Comment Beam Me Up Scotty
Beam Me Up Scotty's picture

Stealth inflation!! If it lasts half as long it really costs twice as much!!

Tue, 02/19/2013 - 11:28 | Link to Comment msmith9962
msmith9962's picture

Or if it gets dirty.  My wife busted me yesterday.  She asked how I can keep a long sleeve shirt for 15 years but want to buy a new car every 5 years.  I'm on my 3rd used corolla in a row.  Gas thrifty and I always have the right of way in DC traffic vs the BMW/Mercedes drivers.

Tue, 02/19/2013 - 11:38 | Link to Comment Sudden Debt
Sudden Debt's picture

HAHAHA!!

My wife said something just like it this weekend!!!

She was looking through some old vacation pictures and it was constantly....

"Do You Realize You Still Have Like Every Piece of Clothing You Wore In These Pictures?!"

In my head it was like "YEAH OFF COURSE!!! THEY'RE ALL STILL GOOD!"

But I kept it shut because that's not the kind of stuff you say to woman... next week we're going shopping...

Tue, 02/19/2013 - 12:40 | Link to Comment zuuma
zuuma's picture

Use it up,

wear it out.

Make it do,

Or do without.

 

Words to live by.

I'm still driving a 2000 Infiniti with 212,000 miles.

Still runs great! I just fix it if it breaks - but it does so rarely.

Tue, 02/19/2013 - 13:07 | Link to Comment hairball48
hairball48's picture

95 Ford pickup here with 234,000 miles for me

Gold and Silver bitchez, not vehicles.

Tue, 02/19/2013 - 13:24 | Link to Comment dtwn
dtwn's picture

2000 Nissan Maxima here, 238,000 miles and still running strong.  Gotta love that VQ power, Nissan sure did do something right with their V6s.  I do all my own work, have never taken it to the shop.

Mon, 03/18/2013 - 08:04 | Link to Comment fnordfnordfnord
fnordfnordfnord's picture

83 Mercedes Diesel 350k + ??? The counter stopped working years ago. The motor keeps clicking along.

Tue, 02/19/2013 - 10:51 | Link to Comment TruthInSunshine
TruthInSunshine's picture

A GM made, Ally-financed Volt, C7 Corvette or Escalade in every garage and carport!

-- Chairman ObaMao

Tue, 02/19/2013 - 11:28 | Link to Comment FeralSerf
FeralSerf's picture

Two of them in every garage and a chicken in every pot!

Tue, 02/19/2013 - 12:06 | Link to Comment TruthInSunshine
TruthInSunshine's picture

The chicken thing is pushing it.

Maybe some McHorse Nuggets.

Tue, 02/19/2013 - 10:51 | Link to Comment Racer
Racer's picture

The 'markets' have lost any vestige of any links to reality

Wed, 02/20/2013 - 04:00 | Link to Comment Ar-Pharazôn
Ar-Pharazôn's picture

welcome to the matrix. how long have you slept?

Tue, 02/19/2013 - 10:52 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Time to pay the plebs to buy a new car.

<So many tricks, so little time.>

Tue, 02/19/2013 - 10:57 | Link to Comment DaveyJones
DaveyJones's picture

I'm sure if we just keep building more of the second biggest purchase the middle class taxpayer makes dependent on a rapidly decreasing resource, the economy will stand up right away.

"it's like how much more blacker could this be and the answer is... none, none more black." 

Tue, 02/19/2013 - 10:56 | Link to Comment Sudden Debt
Sudden Debt's picture

Did anybody hear about that story about a country where you got almost as much for turning your old car for scrapping and where you got your new car almost for free???!!!

I think it was China or some other communist country....

Tue, 02/19/2013 - 11:00 | Link to Comment DaveyJones
DaveyJones's picture

Yes, China - they were so stupid, they also began labelling their GMOs, avoiding our debt, and building non petroleum energy 

Idiots

Tue, 02/19/2013 - 11:08 | Link to Comment Taffy Lewis
Taffy Lewis's picture

Beat me to the punch, Sudden Debt:

"Cash for Clunkers - What Was the Payoff?

  By Sean Tucker -- updated 08/25/2009 | Aug 05, 2009 11:46 a.m.

 

So, what did we get for our $3 billion?

The government's Cash for Clunkers trade-in program, which offered Americans up to $4,500 toward the purchase of a new, more fuel-efficient car when they traded in an older car, burned through $3 billion in just 29 days. Advocates had promised big things from the initiative - environmental benefits as the program pulled over-polluting older cars off the road, economic benefits as it poured rocket fuel into a depressed auto market, even energy and foreign policy benefits as it cut our demand for oil.

Government officials have already labeled the Car Allowance Rebate System (CARS) a resounding success. Transportation Secretary Ray LaHood, announcing plans to wind down the rebate program, called it "the economy's best story in six months."

Tue, 02/19/2013 - 11:01 | Link to Comment williambanzai7
williambanzai7's picture

However, sales of Ferraris have ramped upward.

What does that tell you?

Tue, 02/19/2013 - 11:04 | Link to Comment DaveyJones
DaveyJones's picture

I think it's sign language

It only involves one finger

Tue, 02/19/2013 - 11:05 | Link to Comment Rainman
Rainman's picture

tells me that ugly rich guys will get far more pussy than the rest of us.

Tue, 02/19/2013 - 11:37 | Link to Comment Joe Davola
Tue, 02/19/2013 - 12:17 | Link to Comment DaveyJones
DaveyJones's picture

at least they love us for our personality

Tue, 02/19/2013 - 11:01 | Link to Comment Confundido
Confundido's picture

The 8:20am gold take down did not work. Now comes the 10am one...

Tue, 02/19/2013 - 11:02 | Link to Comment orangegeek
orangegeek's picture

Don't work.  Ride a bike.  Take transit.  Get married and don't have kids. Stay single.  Collect government handouts.  Talk endlessly and do nothing.

 

Yep - sounds like Europe.

Tue, 02/19/2013 - 11:02 | Link to Comment edwardo1
edwardo1's picture

A markt for decimated cars isn't what you are describing so, perhaps

you might change the title to a "A decimated market for cars."

Tue, 02/19/2013 - 11:23 | Link to Comment Dan The Man
Dan The Man's picture

I dunno...I bought a GubermintMotors car in 07...its pretty decimanted now.

Tue, 02/19/2013 - 11:03 | Link to Comment Shizzmoney
Shizzmoney's picture

Young people have no jobs, old people have no money, rich people are hoarding cash, and everyone is sick of being in debt.

I just don't know they are going to keep selling these cars.....

Tue, 02/19/2013 - 11:06 | Link to Comment DaveyJones
DaveyJones's picture

shut up, there's a war on

Tue, 02/19/2013 - 11:09 | Link to Comment Sudden Debt
Sudden Debt's picture

WE'LL ALWAYS HAVE CREDIT CARDS!!

Tue, 02/19/2013 - 15:57 | Link to Comment Totentänzerlied
Totentänzerlied's picture

"everyone is sick of being in debt"

That is pure projection. Show me the lost realm where these mythical anti-debt humanoids live. You can't fund a modern middle class lifestyle without debt, not now or ever (but moreso now), or just about any kind of productive enterprise.

Jobs and money are irrelevant to the dealer thanks to NINJA loans. The issue is insurance, registration, gas, and maintenance. And the fact that Europeans, particularly the younger ones, tend to have less of a fetish for cars. Being relatively poor in and living in a crowded city will do that.

Tue, 02/19/2013 - 11:03 | Link to Comment Sach Mahoney
Sach Mahoney's picture

TO HELL with printing money and buying bonds, next central bankster move is just print MO' money and buy auto stocks...trillions into stocks.  Oootz Oootz Oootz....really goose the market...make everyone feel great.  

Tue, 02/19/2013 - 11:13 | Link to Comment Freewheelin Franklin
Freewheelin Franklin's picture

Who needs a car when you can have high-speed rail and "gleaming alloy air cars...two lanes wide"?

 

https://www.youtube.com/watch?v=FAvQSkK8Z8U

 

 

Tue, 02/19/2013 - 11:18 | Link to Comment Seasmoke
Seasmoke's picture

Could be as simple as cars are fucking 50% overpriced.

Tue, 02/19/2013 - 12:40 | Link to Comment Non Passaran
Non Passaran's picture

And EU gasoline 100% overtaxed. 

Tue, 02/19/2013 - 23:46 | Link to Comment Mark Urbo
Mark Urbo's picture

..and the Euro overvalued.

Tue, 02/19/2013 - 11:26 | Link to Comment Mrmojorisin515
Mrmojorisin515's picture

Looking at the major markets, only the UK posted growth (+11.5%)  Thank god for inflation!

Tue, 02/19/2013 - 11:29 | Link to Comment Super Broccoli
Super Broccoli's picture

Erm by the way it's not "peugeot citron" but "peugeot citroen" ... (citron means "lemon" in french LOL)

Tue, 02/19/2013 - 16:55 | Link to Comment mkhs
mkhs's picture

Perhaps it was intentional.

Tue, 02/19/2013 - 13:39 | Link to Comment THE DORK OF CORK
THE DORK OF CORK's picture

Dutch car market after that nationalization thingy ?

 

Epic fall.

 

It only a months data but a -31.2% fall is big stuff.

Tue, 02/19/2013 - 15:45 | Link to Comment Totentänzerlied
Totentänzerlied's picture

Gasoline-ICE vehicles are not part of the future. I for one welcome a post-GM world.

Tue, 02/19/2013 - 16:23 | Link to Comment steve from virginia
steve from virginia's picture

 

 

Brent @ $117/bbl. Death to ...

 

a) European economies (because infrastructure was built stupidly assuming $20 crude into perpetuity),

 

b) Auto industry (because crude at that price is too valuable to waste driving in circles),

 

c) European governments (and others, besides),

 

d) Energy business itself (because it must constantly pull more funds out of the economies in order to obtain more difficult-to-extract fuels).

 

The customers cannot gain enough credit wasting fuel to afford to bring new fuel to market.  Engame.

 

 

Tue, 02/19/2013 - 16:26 | Link to Comment NEOSERF
NEOSERF's picture

15,000 bitchez!!!

Do NOT follow this link or you will be banned from the site!