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

2017 was definitely a great year for Porsche as the automaker was able to break their sales record in the United States. Overall, they delivered a total of 55,420 vehicles,...
by - January 23, 2018
The 2018 Consumer Electric Show is full of exciting new technology for everyone, including the automotive industry. One of the most anticipated is the unveiling of the Linux-based MBUX that...
by - January 22, 2018
With all the photos Mercedes-Benz has been posting of the new 2019 G-Class, not one of those featured the SUV in a light exterior finish, as they were all in...
by - January 22, 2018
When you first glance at the Rhino GX SUV, the first thing that will come to mind is that the vehicle probably has a military style cabin, with thinly padded...
by - January 22, 2018
The Chinese market will soon be getting the exclusive China-only model, Mercedes-Benz GLC-L, for a premium of 15,000 yuan ($2,300) more than the regular model. The difference is actually quite...
by - January 20, 2018
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries