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Germany's Revenge: Peugeot German New Car Registrations Collapse by 41%
As the Franco-German divide grows wider (as we have noted here and here), it would appear the glaring differences being played out in public over monetary, fiscal, and sovereignty policies are spilling over into daily life in Germany. For the 11th month in a row German new car registrations of Peugeot (the large French car manufacturer) have plunged year-over-year. Now down over 40% in the last 12 months, registrations of the French car by German citizens is at its lowest since August 2009. Furthermore, since total new registrations of the otherwise stable German car market also posted a 10% drop, it is unlikely that any patriotic Germans will "pick French" any time soon. Perhaps this is why the effervescent French Industry minister Montebourg is so anxious to get Draghi to talk the EUR down to 1.10 to 'give oxygen to European economy' in order to juice his nation's non-European exports (though maybe not to the Japanese)...
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There's an ugly truth that few, if any, speak of, when prognisticating "green shoots" in the economic future of the Eurozone (including Germany), the U.S., Japan and now, even the miracle BRICs --
-- The proportion of goods (whether manufactured & consumed domestically or exported for consumption, or manufactured abroad & imported for consumption) as well as services provided, that are discretionary, has never been a larger % of total composition economic output all over the globe as it is now.
The "beautiful deleveraging" of increasingly income starved and/or savings depleted non-consumers means there's a massive % of what now composes global economic production of goods and services that are discretionary in nature and that will be pulled up onto the chopping block.
We're about to find out how many calories Gabourey Sidibe can eliminate from her daily diet, and companies like Frito-Lay, Coca-Cola & McDonald's are NOT amused.
TIS - me stoopid: does this not mean that collectively we never have been so far away from bitter, hard want - and that all in all we are having only a little problem of... accounting? discretionary means after all in the human dimension not needed to survive, while in the economic dimension price-elastic
At this stage I'm reminded of Ford who started to give his employees higher-than-average salaries so that they would also buy the Model T
The Economic Law of Gabourey Sidibe essentially states that the larger the the production of discretionary goods & services as a % of the total economic pie, the steeper & more precipitous the economic drop when consumer discipline (whether voluntary, or inevitably, involuntarily) kicks in.
There is a co-factor that amplifies the adverse impact of the operation of this law: The higher the % of consumption is fueled with debt, the more severe the injury.
*Ford's practice of voluntarily raising minimum wages then is antithetical to the accepted doctrine & practice of large corporations today, since Ford was selling vehicles in what was essentially a "closed" American market (there weren't any truly affordable, mass production competitors to Ford at that time, at any rate), and today production flows to any area of the globe with the lowest production costs, with labor being the cheapest commodity of all due to such flow, central fiat fracional bank radicalization/intererence (e.g. currency value manipulation) and automatization.
eh, you are still the best ZH commentator I know
I particularly cherish this "Ford's practice of voluntarily raising minimum wages then is antithetical to the accepted doctrine & practice of large corporations today..."
Schweinhund von KronyKapitalism und währung schaffung.
Schweinhund von KronyKapitalismus und Währungschaffung. Sorry to have corrected you... spent too much time in Deutschland, not to do so. MfG (Mit friendly Greetings).
Still gave you a +1, as it's zee Korrekt sing to do. ;-)
Your German is actual German.
Mine is babelfish or google-gaga translate.
I hope the Germans will also start ignoring French wines ... so I can buy them on sale for cheap :)
I will never understand how anyone bought a French "car" in the last 40 years!
Because their timeless sexy look. So stylish!
http://flipacars.com/pics/Citroen/citroen-2cv-6-03.jpg
http://gomotors.net/pics/Tomos-Citroen/tomos-citroen-acadiane-01.jpg
lol
Spitze!
Uh huh. Ford's entire US production today is subject to the UAW's byzantine restrictive work rules, pension load, etc. The same union owns the conditions at domestic Chrysler and GM plants. If only we had a national "right to work" law and applied rule of law to bankruptcies we might have decent and sustainable conditions in our car markets here.
As to Germans slowing down buying French cars, sure. Germans are practical people who want a serviceable car. The disintegraton of the EU and Euro will make Peugeot vehicles less easily serviceable, or more expensively servicable, going forward. Also, nationalism is rising in Europe again, of course. That's how Europe rolls.
Not to fully dissect your core point, but you do realize that Ford is a multinational corporation with factory production all over the globe, and that, even in the U.S., it has benefited in the same manner as post bankruptcy GM & Chrysler from the Tier II UAW wage/benfit structure, right?
That was somewhat rhetorical, to be fair, since you specifically referenced "U.S. production"-- I'm not making any fundamental suggestion about either of these two facts, but rather, just pointing them out since you've at least implied Ford's "U.S. production" has such a massive effect on their overall labor costs.
Sure, all three are multinationals. I wrote US production with care. The monopoly UAW....one union to bind them, one union to control them, one union 100% behind Democrat statist politicians...is mononational as far as I understand it today. I will never again buy a UAW vehicle and I refuse them as rental cars too... but I'd buy an "american" car made in a non-union plant with some enthusiasm. There just aren't any.
TIS, in your analysis the major point imo it the trading-arrangement one: globalization, i.e. the "as much free trade as possible one"
that one is historically specifically linked to either British or American trade and military predominance
any retrenchment of Anglo-American influence might change that - hence why the British are feverishly building on this future Transatlantic Trade Treaty
Why would anyone - let alone a German, buy a French car? Why drink a Royal Crown cola when you can drink a Coca Cola?
High frequency commenting..You beat me by a nano second...so close even the time stamp is the same.
Great minds think alike mate...
because the French cars are very comfortable while zee German cars are not, unless you buy something which costs you an arm and a leg.
Have always driven Renault, currently a Safrane model. Have seen many cases of people returning to a Safrane from very expensive cars because they are extremely comfortable with a hint of German stiffness which makes them handle very well too. This model is also very reliable. OK, there are prettier cars but who cares.
You can stop biting your lip now!
Well, I don't care about Peugeot. I haven't seen a nice model from them since the 90s.
Former Peugeot 306 owner here, nearly 10 years I ran that thing amongst the curvy roads of the alps and riviera. They lost me with the the 307.
Peugeots have oversized mouths nowadays. A nice feature for a woman (BB) but Peugeot overdid it on their cars. You could cool a US turbo V8 with 2,000hp or 3,000hp through a Peugeot's front opening. Besides, all new cars suck because they beep you crazy if you don't buckle up.
Yeah they've let their designers totally jump the shark on that.
double post
Actually Peugeot builds very good turbo-diesel engines, close to par to Audi/Volkswagen ones, but their cars are much cheaper (while Volkswagen subsidiaries Seat and Skoda are also a good way to buy cheaper).
The Pug/Cit diesels are good. These stupid, evil and corrupt EUSSR/Euro/NWO/Bankster/Rothschild BS has hurt everything and everyone in Europe. If they just had a trading market with no gangsters in Brussels - Pug/Citreon would be doing fine.
This EUSSR/Euro shit has fueled old hatreds amongst European people. Evil politician/bankster family scum always profit when Europeans start killing each other.
In other news, Germans stopped eating french fries
Why in the world would any German by a French piece of crap when they make some of the best cars in the world.?
Best tanks also hence Germany will do whatever the fuck Germany wants too despite French bleating...
In almost all the surveys of after sales faults. The Japanese take the top 30% of places with the fewest problems, followed by a mix of german, french, spanish, italian (there are no British). For any price band, German cars are really only marginally better than French.
But if you want quality, you don't buy European at all (or American for that matter).
Because french cars are aimed at the low end of the market, what this really shows is that normal wage earners in germany are feeling the sqeezze but higher income folk not so much, be interesting to see the numbers on white goods. The germans make the best but the italians make good stuff at reasonable prices, im guessing that italian white goods exports have fallen off a cliff while the more expensive german stuff is holding up ok. Its just a case of who has the money to spend
Kia and Hyundai make better cars at the low end. Peugeot just became a victim of Korean competition in Germany. That is what is called a market economy, most people seem to forget that.
German Fords are generally much better and cheaper than any French cars. The EUSSR and Euro wrecked all trade within Europe. These evil MF'ers in Brussels and the euro bankster families created this nightmare.
Lol, Montebourg, Montebourg : my Ministry for a Peugeot!
No problem. The French simply need to attend the GM School of Channel Stuffing and Federal Crony Capitalism. "Sales" will be flying in no time. Who needs registrations anyway? It's not like you need buyers or drivers for the cars you build.
WRONG! The French will simply pass a law requiring all French millionaires to purchase 4 Peugots every year.
Didn't they all leave last month though?
I understand that it takes 3 years to build a Peugeot--1 month to assemble and 35 months break time.
I miss my 1968 SAAB model 96....sigh. Everyone like front drive Swede cars until friggin GM took them over, jeesh.
I miss my Saab 95 like I miss a hole in my head. Or a hole in my bank account that it constantly created.
Traded in the Saab for an E500 (with 20k miles), that then had 32 visits to the MB dealer in the next 18 months. That sucker felt like it was either a Hurricane Katrina model, or made from reject parts by a new crew of Turkish apprentices in Stuttgart -- just for training purposes -- but they then decided to sell to Americans. German cars, my ass! Now have a Toyota and love it.
True story: When I hit 50 and decided to use it as a pretext for a Benz, I told my wife that I was having a mid-life crisis and needed either a Benz or a mistress. She looks at, pauses for a moment and says: "You'd better get the Benz, dear. It's cheaper in the long run."
Not so sure. Cost & grief considerations aside, I'm pretty sure which would have offered a better... 'ride'.
Now politicians are openly talking about devaluing their currencies (Japan, Europe, Brazil, etc.).
This is the next phase of the fiat currency race to the bottom.
Next: Open hostility between nations (China v. Japan, Argentina vs. Britain) to be followed by trade wars.
Followed by shooting wars.
Thank you central banks...
"Thank you central banks..."
Don't worry they will be okay financing all sides of the war and then the reconstruction.
Peugeot sell cars towards the low end. German cars on the other hand are no longer people's cars, having been priced out of that market and to be honest the quality is only marginally better than the French anyway. Neither compete successfully with the Japanese for quality.
This indicates the marginal buyers are gone. Hello recession.
You think Japan makes higher quality cars than Germany??
Japanese cars are cheap, and cheap for a reason.
Well, I did get an off the charts great deal on a hot new car at Fukushima Motors...
Oh yes. Easily.
Go look for yourself. I think this is for the US market but your see exactly the same thing in Europe too.
http://autos.jdpower.com/ratings/index.htm
The reality of German "quality" is mostly marketing, it feels higher quality when you spend that extra $10k for the same thing. In reality the top producers in terms of quality are toyota, toyota, lexus(toyota), honda, nissan etc etc. With the native producers generally languishing somewhere behind. Typically the only reason a native producer is in the top spot is the Japs simply haven't produced anything in that sector.
Too right. My '88 land cruiser has 425k miles on the original drive train.
And good luck trying to pop start a Mercedes.
The shit will really hit the fan when the Germans stop eating Mcdonalds french fries.
Ever hear any kid or any dude talking about getting a Peugeot when they grow up?
Fucking french engineering?
Please, this company is a dead entity barely shifting into neutral as of today.
Only in france (well and yankville if it was a bank) would they keep this POS going.
Well Renault actually makes very good Formula 1 engines. In fact they have won the WDC the past 2 or 3 years.
Madrigal Electromotive
http://chartistfriendfrompittsburgh.blogspot.com/2013/03/madrigal-electromotive.html
Kash-vier-Klunkers Ja!
Columbo was the last person I saw driving a Peugeot.
What kind of German actually buys a French car?
A mentally disturbed one?? ;-)
Even the French don't want French cars.
And who can blame them?
C'est la vie!
People who can't afford German cars at German wages: Students and single mothers. And cheap bastards.
everyone banging on about how shi*e french cars are, and mostly correct - except for Citroen who have won how many world titles in the C3. Plenty of kids rtound here looking for C3s - used to always be Subaru and Evos
edit - im not french or german and my country doesnt make cars
You must be an American.
Citroen is Peugeot. They're now just two brands made by PSA. They put different skins on the same chassis, electronics and motors. Sell into different markets.
HTH
p.s. It used to be Peugeot winning all the titles, but again it's all PSA underneath. One thing about french cars is they tend to handle well and because they've standardised their platform you can get lots of after market crap to put on them.
Isn't it nice to see that we are all Brüders in Europe? France, Greece, Italy, Spain and even better performing countries such as the Netherlands are all starting to regret the Euro. Because it mostly benefitted Germany. Germany played it well. It went from being the sick man in Europe to being top dog in Europe. Thanks to the Euro and keeping labor costs down while German workers having German working ethos. The other day the German president said that Germany does not want to dominate Europe. Easy to say when you actually do. If the Euro does not devalue then it will soon be over with brotherly relations in Europe.
The Euro and EUSSR has been a diaster for Europe just like Obummer for Amerika. Now we have bansketr favorite Jeb Bush talking amnesty for illegals and 2016. The Bush klan are part of the same NWO elites and bankster that Obummer is part of.
If I'd buy a new car today, it wouldn't be a Fench one.
And that has nothing to do with crisis or not.
There are just no attractive cars made in France nowadays.
// // // // // // // // // // // // // // // // // // // // // // // //Two years ago I bought a Renault, I just needed for the wife a basic inexpensive car to run errands. An old car needs maintenance and no use in spending hard earned draghi bucks in getting a better car to drive to the stores. Also, the basic car has a minimum of electronics,so less chance to have something wrong.
First currency wars, then trade wars. As predicted (by Rickards). But "we don't have currency wars", according to the bankers & political lackeys. /sarc