No improvement in sight, a problem for all major automakers, including the Detroit Three who are losing billions in the Eurozone.
A total of 1,038,343 personal vehicles were sold in EU the during April, a small + 1.7% gain that was statistical quirk since the month had two more selling days because the Easter holidays fell in March.
This was the third lowest level of new registrations for a month of April, with the historic low for April reached in 2012 at 1,021,358 units, according to ACEA, the Brussels-based automaker trade group.
Four months into 2013 new car registrations were 4,026,946 units or -7% less than in the same period a year ago as the Euro-zone economic crisis continues. The largest European economy, Germany posted a modest +3.8% gain at 284,444, with the non-euro UK growing 15% at 163,357. Relatively small Spain was up +10.8% or 62,317. However, France (-5.3% at 157,749) and Italy (-10.8% or 116,209) continued their downturns.
There’s no good news is in sight for the balance of 2013, a problem for virtually all major automakers, including the Detroit Three who are losing billions there and will continue to do so in spite of years of turnaround plans. The average rate of unemployment for the 17-nation Euro zone is 12% with many economies at twice that level.
From January to April, the UK remained the only major market to post growth (+8.9%, 768,555). Spain (-6.7%, 243,042), Germany (-8.5%, 958,401), France (-12.3%, 591,631) and Italy (-12.3%, 471,750) all saw demand decline, leading to the overall decline.
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