No end in sight for the prolonged slump in vehicle sales in the EU. Government spending austerity measures clearly haven’t worked as the crisis deepens.
The sale of new commercial vehicles in the EU declined again in January (-10.6%), continuing a worrisome downward trend evident for all of 2012. Of all the largest markets, only the UK showed growth (+5.4%). France (-9.8%), Germany (-15.5%), Spain (-15.5%) and Italy (-23.6%) all saw their markets shrink significantly. In total, 126,110 commercial vehicles were registered in the EU during January. All of the major categories showed declines – small vans, heavy commercial vehicles, trucks – with the exception of buses and coaches.
The crisis presents a case study in the view of many economists of what not to do in the U.S. as the political budget battles escalate.
New van registrations decreased by 9.7%, at 103,129 units. The UK market expanded (+11.9%), while France (-9.3%), Germany (-13.9%), Spain (-18.2%) and Italy (-25.7%) all went backwards. France recorded the most vans (29,505 units), followed by the UK (16,049 units) and Germany (14,260 units).
Demand for new heavy trucks declined the most sharply across segments in January (-18.4%), totaling 15,510 vehicles. All major markets contracted, from -9.3% in Italy to -11.1% in Spain, -15.4% in France and -22.0% in Germany and the UK.
January results for the truck segment were also negative (-17.2%). All major markets recorded a double-digit decline, ranging from -10.1% in Spain to -14.2% in Italy, -15.1% in France, -19.5% in Germany and -21.2% in the UK. In total, 20,306 new trucks were registered in the EU.
In January, the UK, France and Germany registered roughly the same number of buses and coaches. Demand slipped in the UK by -1.3% and decreased by -15.3% in Germany, while it was up +3.7% in France. Italy (+22.2%) and Spain (+51.1%) also posted growth. Overall, the EU sold 2,675 new vehicles in the first month of 2013, or +9.8% more than in January 2012.
ACEA members are BMW Group, DAF Trucks, Daimler AG, FIAT S.p.A., Ford of Europe, General Motors Europe, Hyundai Motor Europe, IVECO S.p.A., Jaguar Land Rover, PSA Peugeot Citroën, Renault Group, Toyota Motor Europe, Volkswagen Group, Volvo Cars, Volvo Group.
