European auto sales to fall 16% in 2009

Euroautos 2008.jpg

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.

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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