Falling car sales in May

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martien007
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Falling car sales in May




by martien007 » 13/06/08, 11:18

Is it the expensive oil effect or decrease in overall purchasing power?

It is certain that growth should curb its mad race sooner or later ...

AFP the 13 / 06 / 2008 11h06

Expensive oil squeezes car sales in Europe: -7,8% in May

Cars stored in the parking lot of the Renault factory in Douai
© AFP / Philippe Huguen Archives

Sales of new cars plunged 7,8% year-on-year in Europe in May, after rising 9,6% in April, the Association of European Automobile Manufacturers (ACEA) announced on Friday. effect of the surge in petroleum products.

"This result was affected by one less working day in the region (compared to May 2007), as well as by a massive increase in fuel prices," said ACEA in its press release.

On a cumulative basis since the start of the year, car sales are down 0,7% year-on-year.

A total of 1.334.081 new cars were registered in May in the 28 countries reviewed by ACEA: the 27 member states of the European Union, less Cyprus and Malta but plus the 3 EFTA countries (Iceland , Norway and Switzerland).

The decline is stronger on the Western European markets (-8%, at 1.235.314 vehicles) than in the new EU countries (-4,2%).

Ireland is the most heavily affected with sales in free fall, by 50,7% to 10.191 units.
Among the major markets of Western Europe, France is one of the few where sales still increased, by 7%, to 184.463 vehicles in May.

However, the decline reached 6,2% in Germany (275.259 registrations), 3,5% in Great Britain (179.272 registrations), 17,6% in Italy (204.607 registrations) and 24,3% in Spain (116.108 registrations) .

The drop in sales is generalized to all the major automobile manufacturers.

The European number one, German Volkswagen (VW, Audi, Seat, Skoda brands) recorded an 8,1% decline over one year with 269.476 cars sold.

French PSA Peugeot Citroën, number two in Europe, saw its registrations fall by 7,9% to 175.292 units. For the other French manufacturer Renault (Renault, Dacia brands), the drop was 5,7% to 117.133 units.

The decline was 8,6% to 140.778 units for the American Ford (Ford, Volvo, Landrover, Jaguar) and 5,6% to 133.061 units for its compatriot GM (Opel, Chevrolet, Saab).

Among the Germans, BMW registrations fell by 4,4% to 76.798 units and those of Daimler by 13,2% to 66.800 units.

The Italian Fiat shows a decline of 4,5% to 113.866 units.

For the Japanese Toyota, the plunge even reached 21,6% to 65.793 units
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