This Is Sick: European Auto (Non-)Sales

Scientists all over the world are in a mad scramble to find a vaccine against the vehicular flu, commonly called “motor malaise.” Now, Europe also finds itself in the grips of the pandemic. Today ( Farago beat me to it), the European association of auto makers ACEA released their January through October numbers. Analysts from the automotive anorexia formerly known as America may envy the fact that from January to October, Europe (as defined by ACEA) fell only 5.4 percent to 12.852m units. Taking a closer look, we now know why the EU was so eager to enlarge eastwards. In the new easterly member states, there was at least an ittsy bit of growth, 2.5 percent for the first 10 months. Without the eastern comrades– make that members– the EU would be looking at an even heftier percentage-letting. Have a Maalox, or a stiff drink, and read on, if you dare ….

Whence came October, Europe got word of something called financial crisis, and people started to avoid the breeding grounds of the vehicular flu, previously called dealers’ showrooms. The result: a whopping 14.5 percent October downturn compared to the previous year. Tu felix Austria was the only Western European country to buck the dire October trend. Mountainous Austria was up four percent in October, probably in celebration of their tiny country being in control of mighty Volkswagen soon, or already, maybe not. Spain is Europe’s absolute beyond-salvage basket case, with an eye-popping loss of 54.6 percent in October. Ireland is in the reds to the tune of 40 percent. UK down 23 percent. Germany, 8.2 percent lower than the already weak October of last year. France, 7.4 percent down in October. For the first ten months, sales in Deutschland and neighboring Frankreich are relatively flat with +0.3 percent and + 2.2 percent, respectively.

If you want good news, go east, young man. The Polish market expanded in October 12.3 percent. From January to October, the Poles are up 9 percent – not a joke. The second biggest market in Europe’s East is Romania, but they screwed the idyllic picture by going down 10.6 percent in October. So where is the next shoe to drop? Lower car sales in Abu Dhabi? Entirely possible. Abu Dhabi’s National reports that even the sheiks “are cutting back their spending on luxury goods, overseas flights, eating out and entertainment.”