EU auto sales fall further 9% in May

Chemical companies, Consumer demand, Economic growth, Financial Events

Euroautos Jun10.pngThe blog has been out and about in recent days, visiting some of the major European chemical companies. Most continue to see strong order books. In normal circumstances, this would lead to considerable confidence about the outlook for the rest of the year.

However, there are increasing fears, as Nigel Davis has noted in ICIS Insight, that underlying growth may already be slowing. One tangible example of this slowdown is the chart above, showing that EU auto sales fell a further 9.3% in May.

Last year, of course, Europe was the world’s largest auto market, with sales of 14.4m. And volume continued to be positive versus 2009 until March, helping to boost chemical and polymer demand. But few expect H2 to be as strong.

ACEA (the European auto manufacturers association) note that the sales decline reflects both “the end to government support schemes and the further challenging economic situation“. In turn, this reinforces the blog’s New Year worries that Restocking is not the same as Recovery.


Western retailers rely on luxury or budget sales


The blog has been out and about in recent days, visiting some of the major Europ...

Learn more

US housing starts down 17% as tax incentives end


The blog has been out and about in recent days, visiting some of the major Europ...

Learn more
More posts
CEOs need new business models amid downturn

Many indicators are now pointing towards a global downturn in the economy, along with paradigm shif...

Stock markets risk Wile E. Coyote fall despite Powell’s rush to support the S&P 500

How can companies and investors avoid losing money as the global economy goes into a China-led reces...

Chart of the Year – China’s shadow banking collapse means deflation may be round the corner

Last year it was Bitcoin, in 2016 it was the near-doubling in US 10-year interest rates, and in 2015...

BASF’s second profit warning highlights scale of the downturn now underway

The chemical industry is easily the best leading indicator for the global economy.  And thanks to K...

Chemistry & the Economy: 2019 Outlook

There will be no shortage of important topics to discuss on Thursday, at my regular Chemistry and th...

Brexit moves from ‘Snakes and Ladders’ to cricket

The Brexit debate had appeared to be a simple game of Snakes & Ladders till now.  The Leave cam...

Asian downturn worsens, bringing global recession nearer

The chemical industry is the best leading indicator for the global economy.  And my visit to Singap...

Your ‘A-Z Guide’ to the Brexit Negotiations

“The UK is now facing a national crisis”, according to Margaret Thatcher’s former ...


Market Intelligence

ICIS provides market intelligence that help businesses in the energy, petrochemical and fertilizer industries.

Learn more


Across the globe, ICIS consultants provide detailed analysis and forecasting for the petrochemical, energy and fertilizer markets.

Learn more

Specialist Services

Find out more about how our specialist consulting services, events, conferences and training courses can help your teams.

Learn more

ICIS Insight

From our news service to our thought-leadership content, ICIS experts bring you the latest news and insight, when you need it.

Learn more