The fat lady of ACEA (European Auto Manufacturers Association) has sung her aria of April auto acquisitions. If you just want the skinny (as opposed to the fat): sales in all of Europe are down 12.3 percent compared to April 2008. Four months into 2009, the market decrease amounts to 15.9 percent. Compared to the carmageddon elsewhere, this ain’t so bad. A closer look reveals a mixed bag of surprising champs and walking dead.
First off, if Europe were counted as a whole (as it should, given that it mostly has a common currency, common borders, and common commissars in Brussels calling the shots), Europe would by far be the largest auto market in the universe, outdistancing the contracting USA and upstart China by a huge margin. But for some unfathomable reason, industry-types and their media lackeys insist on counting the European countries separately, and we shall leave it at that.
Saturated Western Europe surprised analysts by falling only 11.6 percent in April, while the new EU member states in the East, widely seen as a growth market, cratered by 21.4 percent.
Robust cash4clunker programs lifted April sales in Austria (+12.8 percent) and Germany (+19.4 percent). Countries with meeker shredding schemes got away with single digit decreases: France (-7.1 percent), Italy (-7.5 percent) and Luxembourg (-8.5 percent). British and Spanish registrations fell by 24.0 percent and 45.6 percent respectively. In the near dead category, Iceland leads with -88.4 percent, followed by Ireland (-66.7 percent) and Finland (-52.1 percent).
In the new EU Member States, gains in Poland (+2.4 percent), the Czech Republic (+19.0 percent) and Slovakia (+43.5 percent) were off-set by Hungary (-51.5 percent), Romania (-51.8 percent) and others.
Brand-wise, Chrysler-loving Fiat recorded the only plus, with a five percent gain. Volkswagen lost a negligible 2.3 percent while boosting its European market share to 22.6 percent, far outdistancing PSA (which has a 12.8 percent share of the European market).
Those “in the know” had predicted that ToMoCo would gain from the cash4clunkers bonanza. Nope. They took it in the shorts with a -22.8 percent sales decrease in April.
Luxury cars are still a hard sell: Daimler (-26.6 percent) and BMW (-31.1 percent). European buyers shun brands in trouble: Chrysler (-54.4 percent), SAAB (-60.4 percent) and imported GM gear (-63.7 percent). GM as a whole is doing slightly better than the market, “boasting” a -10.8 percent decrease. If you want the stats in all their bloody and gory detail, download them here.
Bertel, the fact that the stats vary so widely by state would seem to be sufficient reason to keep them segmented.
Having said that, wow. I wonder if VW can give SEAT away to someone. Without the Spainish connection, they would have posted a profit as well as the market share gain.
I see that even Mini posted a 22% loss this time. Any idea what happened here?
And – where are Subaru and Porsche? They can’t be so small as to both fall into the ‘other’ group.
But for some unfathomable reason, industry-types and their media lackeys insist on counting the European countries separately
Well since they are still, you know, separate countries people find value in categorizing by country instead of by discrete contiguous landmasses, since countries are apt to have different policies and economic conditions. For example, Germany’s GDP is shrinking 14.4% annualized but was first to have cash-for-clunkers. Meanwhile Spain is only shrinking by 7% but has crazy 20% unemployment and some other clunker policy. You could include UK and Norway but they don’t use the common currency and have their own monetary authorities.
Besides, us xenophobic non-European rubes have trouble keeping up with what exactly is the relevant entity — the Euro Zone? The European Union? The EU-15? The the EU-27? EFTA? The EU15+EFTA? (What the heck is EFTA?) The continent of Europe to the Causasus? The Holy Roman Empire? And don’t get me started on whether to include England, my British co-workers can’t even tell me what’s the difference between the “United Kingdom” and “Great Britain”.
stats for Porsche??
From Hungary I can show you some “buyer friendly” financing : Suzuki (was the top seller and has a factory here) new Super Financing in May : from 7,99% APR Euro based.
Fiat : 30% downpayment and 13-15% APR Euro based, with 20-30% price reduction
Others say nothing, for example Opel hungarian site hasn’t got any site for financing.
A lot of people are sitting in a 60-120 month CHF based credit with +30-40% increased monthly payment.
There isn’t a cash4clunker program and who has some cash will buy some used premium car instead of Suzuki, Opel, Fiat, etc.
@roamer
Mini is down ’cause in Europe it isn’t really a unique car in the sense that there are many, many ather options of the same size that cost thousands less, are more economical, and not so impractical (bigger trunk, greater interior space, etc.). In the US it is small, economic and relatively cheap, but in Europe its cost-benefit is negative. It’s mostly a fashion statement.
Fiat up in Europe. Up in Brazil. Heck they might make 5 million cars even without buying out Mr. Opel :) !!!!
UK = England + Scotland + Wales + Northern Ireland
GB = England + Scotland + Wales
kevin, American states are also “sovereign” and the law/rules are probably more uniform in the Euro zone than in US, but the mediamarket is on the other hand less unified
UK also include also some of the island outside England +Wales + Scotland + Northern Ireland
EFTA = Iceland, Norway, Switserland and Liechtenstein. Totally independent state that just have to follow EU rules and pay into the EU budget. And following EU rules means really following EU rules and not like normal EU countries follow it (somewhat)
What Tom said is correct. UK is “The United Kingdom of Great Britain & Northern Ireland. Isle of Man and Channel Islands are “crown dependencies” not part of the UK and not in the EU. Likewise British Overseas Territories (Bermuda, the Caymans, the Falklands etc) are not part of the UK but are territories ruled by the UK.