European auto sales fell 8.4% in 2008, versus 2007. Sales of 13.56m autos were just ahead of the USA's 13.2m. European volumes continue on a worsening trend, with December down 19% versus last year:
• Spanish sales were down 50%
• Sweden was down 45%
• The UK was down 21%
• The Netherlands were down 19%
• France was down 16%
• Italy was down 12%
• Germany was down 6%
Against the pace of the current decline, JD Power's forecast (above) of just a 16% sales decline in 2009 looks optimistic. Chemical companies will be hoping it is right.