Its hard to be optimistic about the outlook for the global auto market. The chart above of the Top 7 markets, which account for around 2/3rds of global sales, highlights the growing uncertainty. It shows Q1 sales in 2015 (blue column) versus 2014 (blue). Overall, these were up just 1.9% at 15.8m. And although the […]
Tag Archives | EU
Who would pay the bill, if Greece defaulted on its current €320bn debt ($340bn)? This is no longer just a theoretical question. Of course, we have all known since 2012 that Greece would never be able to repay its debt. But the EU covered up this hard truth by a ‘pretend and extend’ policy: The default deal deferred repayment […]
Nobody can guess the outcome of the UK’s general election on 7 May. This is astonishing, as it is only 4 months away. Currently, it seems most unlikely that either of the main parties, Conservative or Labour, will be able to form a government on their own. Indeed, 7 different outcomes have been identified as possible by the […]
The Cycle of Deflation has taken another lurch forward. The reason was India’s decision to veto last year’s Bali deal to streamline customs procedures. Almost certainly, this will prove the dying effort of the World Trade Organisation, which sponsored the proposal. The blog is particularly sad at this outcome. It has always believed that free […]
A political earthquake hit Europe in the European Union elections on Sunday night: For the first time since the War, mainstream parties were beaten in major countries In France, the National Front won 25% of the vote, with conservatives 21% and ruling socialist party only 14% In the UK, the Independence Party (UKIP) won 28%, […]
Government bonds in the larger, wealthy countries of the West have traditionally been regarded as being “risk-free”. Most countries have failed to pay their debts at some time in the past, but it hasn’t happened in the post-War period for the major economies, and so investors have forgotten this can happen. This situation may well change […]
Autos remain the world’s largest manufacturing industry, and the single biggest source of demand for chemicals and plastics. According to detailed analysis by the American Chemistry Council, each new US auto is worth $3,539 in terms of sales – and involves a wide range of products including antifreeze, plastic dashboards, bumpers and windows, as well as upholstery […]
The blog continues this week’s special series on chloralkali and PVC markets by looking at EU developments on PVC. Historically the EU has had strong export positions into markets such as Turkey and Russia, which lack major local production. More recently, as in the USA, strong export demand for caustic soda and weak domestic demand […]
Autos are the largest single market for chemical and polymer sales. And the USA, China and EU are the 3 largest markets, accounting for 2/3rds of global sales last year. Disappointingly, as the above chart shows, their sales were up just 1% overall in Q1 versus 2011 at 10.6m. Even this gain was only due […]
January was not a great month for auto sales in the 3 major markets of the USA, EU and China. These amount to over 50% of global auto sales, and are a key indicator of underlying consumer demand. As the chart shows, sales were just 3m (red square), down from 3.2m (green line) in 2011: […]
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Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry.
The aim of this blog is to share ideas about the influences that may shape the chemical industry over the next 12 – 18 months. It will try to look behind today’s headlines, to understand what may happen next in important issues such oil prices, economic growth and the environment. We may also have some fun, investigating a few of the more offbeat events that take place from time to time. 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.