EU auto sales benefit from scrappage schemes

Euroautos Feb10.pngThe European Union was the leading auto market in the world in 2009. It sold 14.4m, versus 13.6m in China and 10.4m in the USA.

January has continued this promising trend, with volumes up 13% versus 2009. But it is likely to prove temporary, as government scrappage schemes end. This has already happened in the major German market, where January sales were actually down 4% versus 2009.

The chart also gives a good picture of the relative decline in volumes since the downturn began. Versus January 2008, EU volumes last month were actually down 17%. And between 2003 – 8, January sales ranged between 1.2m – 1.3m, versus only 1.06m this year.

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. He also serves as a Global Expert for the World Economic Forum. The aim of this blog is to share ideas about the influences that may shape the chemical industry and the global economy over the next 12 – 18 months. It looks behind today’s headlines, to understand what may happen next in critical areas such as oil prices, China and Emerging Markets, currencies, autos, housing, economic growth and the environment. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

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