European car market is finally stabilizing, report says

Article by Christian A., on October 22, 2010

When analyzing the Europe Union's September passenger car sales, we can find signs that the market finally is stabilizing, even as recovery still looks difficult.

ACEA, the European automakers association, said that for September, the EU's industry car sales totaled 1.2 million units, a 9.6% drop from a year ago.

Actually, this is better than the year-to-year comparisons for July (which declined by 18.6%) and for August (which fell by 12.9%). In addition, industry sales were a bit lower than Europe's 1.3 million units sold in September 2008.

Auto sales are expected to be comparatively weak for the rest of 2010 when compared to last year, when the scrappage schemes of France, Italy and the UK were still in effect. Colin Couchman, a London-based analyst for IHS Automotive, said that sales will stabilize in 2011.

Couchman said that for the last three months, the company was still “in heavy negative territory,” but he is hopeful that “things will improve from there.”

IHS forecast that EU's car sales should total 13.11 million units in 2011, which is very close to the expected sales this year of 13.09 million units.

IHS said that of the four largest markets in western Europe, Germany will recover first since it eliminated its incentive in September 2009 and has survived the worst of the downturn with the end of the scrappage programs. [via autonews - sub. required]

If you liked the article, share on:

Topics: europe, sales

Comments

Recommended

For the longest time, the Skoda Yeti was the only crossover model that the automaker offered to the market. However, that particular model did not really live up to its...
by - April 26, 2018
The Maybach sub-brand has already come to characterize utmost exclusivity among luxury vehicles. Thus, if Maybach unveils an all-new concept with “ultimate luxury” as part of its moniker, it would...
by - April 26, 2018
Mercedes-Benz is showing some love for the automotive customers in China by unveiling the long-wheelbase version of the A-Class at Auto China 2018, also known as the Beijing Motor Show....
by - April 26, 2018
Toyota recently surprised many with a restored 1965 Toyota Sports 800 that is regarded as the automaker’s oldest race car in existence. This model finished second in the 1966 Suzuka...
by - April 25, 2018
Ferrari decided to boost the 488 GTB and made its mid-engined V8 machine beefier for a more hardcore 488 Pista, which we saw around 2 months ago. Now, the engineers...
by - April 24, 2018