EU auto sales fall 7% in April

Euroautos May10.pngApril 2009 wasn’t a great month for EU auto sales. Volumes (red line) were down 11.6% versus April 2008. But sales were starting to benefit from the introduction of government scrappage schemes.

A year later, as the above chart from ACEA (the European auto manu-facturers association) shows, this support has begun to fade:

• April 2010 sales were 7.4% below April 2009 levels
• This was the first fall for 10 months
• Germany, the largest market, saw a 32% decline

ACEA are not optimistic about the outlook for the rest of 2010. They note that “government support has ended or begun to fade out and the economic situation remains difficult“.

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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