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Car Sales Down for Another Month!!

Under the weight of Europe’s economic problems, car sales in Western Europe fell by just under 5% for the month of October, according to data released by LMC Automotive.

For the West European car market, analysts at LMC recorded that the 2nd half of 2012 is becoming even worse than the first half.

Looking across the major national markets is enough to build a better picture of how crazy it is.

In France, their automotive market recorded its lowest selling rate since the latter of 2008 last month at 1.85 million units a year. In Italy also they recorded low rates at 1.4 million units a year selling rate.

According to LMC Spain remains weak, although the introduction of the new scrappage incentive should provide some respite.

Looking at the German car market shows that they were actually up last month, although not by much, 0.5%, this is still an increase from the figures recorded last year, the reasoning for this in because of extra selling days within the month of October. This helped hide the underlying spiralling trend. Overall, the year to date figures show that the Germans are still down by just over 1.5%.

The only positive point from the LMC conducting their research was the position of the UK car market. For the month of October, it was up 12.1% on last year with the annual sale rate sitting at 2.1 million units a year. The LMC made apparent that it was the private side of the market that was driving the numbers up, this, coupled with the improved customer confidence from earlier in the year really pushed for achievement within the industry.

The LMC have predicted that for 2012 there will be an 8% drop to the West European car market followed by a further decline of 2.7% in 2013.