Hopes of a bottoming of the European have been frustrated, and the small April uptick turned out as a flash in the pan.
We warned in April not to read too much into car data, caused by a curious confluence of calendars. We predicted two weeks ago that the EU market will continue on its downward trajectory. And so it does.
The Chinese car market keeps plodding along. Total vehicle sales were 1,761,500 in May, up 9.81 percent. Passenger car sales were up 9.04 percent to 1,419,700 units. Commercial sales were up 12.88 percent to 364,600 units , the Chinese auto manufacturer association CAAM says.
After Germany’s sudden 3.8 percent sales rise in April, this site did not buy into the sentiment that the worst is over in Europe. It’s not. After the calendar-induced April fool’s gold, the German market continued its downward run, with the rest of Europe sure to follow.
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- ToolGuy No harm no foul (no one died), business is business, yada yada. Why must everyone pick on dealers?-this post dedicated to Ruggles
- Hydrocrust Parts
- ToolGuy The vehicle development process which gave the world the Neon was so amazing (according to the automotive press) that it prompted Rick Wagoner to hire Bob Lutz.Didn't work 🙂
- Lou_BC When my son was at the local Kia dealer they had a vehicle in for service. It was badly rusted. He refused to sign off on it as a tech. The owner being a grade A douchebag had the owner sign a release and let it go.
- ToolGuy Nice writeup.