Tag Archives: eurozone

Western EU Car Sales increase in March

Posted on 7 April 2014 by Ken Zino

While the annual selling rate, or SAAR, is still a pitiful11.8 million, car sales in Western Europe grew by 10% in March to 1.4 million. The car market continues to slowly expand, up 7.4% for Q1 of 2014. Continue reading →

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EU Posts Second Straight Month of Gains in Car Sales

Posted on 19 November 2013 by Ken Zino

Nonetheless from January to October, new car registrations amounted to 10,006,807 units, or -3.1% fewer than in the same period last year as the austerity policies of European politicians continue to wreak havoc on a weak economy that is experiencing five straight years of light vehicle sales declines. The October results were the second lowest level to date for a month of October. Continue reading →

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EU Car Sales Weak in April. Off -7% YTD

Posted on 20 May 2013 by Ken Zino

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 auto trade group. Continue reading →

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EU Commercial Vehicle Sales Plunge 13% in February

Posted on 4 April 2013 by Ken Zino

Demand for new commercial vehicles in the EU during February was down for the fourteenth consecutive month in a decline that hurt all vehicle segments. Continue reading →

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EU Car Sales Drop 10.5% During February to 795,482

Posted on 19 March 2013 by Ken Zino

Passenger car registrations plummeted in the 27 markets of the EU during February of 2013 to fewer than 800,000 units, a 10.5% drop from the same month last year. In February, the UK was the only country to post growth (+7.9%). All other major markets faced a downturn ranging from -9.8% in Spain to -10.5% in Germany, -12.1% in France and -17.4% in Italy. Continue reading →

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January EU Car Registrations Plummet. Eurozone Crisis Deepens

Posted on 19 February 2013 by Ken Zino

Passenger car registrations plummeted in the 27 markets of the EU during January of 2013 to 885,159 units, reaching a historic low ever recorded for the month of January, since the start of record keeping began in 1990 by ACEA. Continue reading →

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Bosch follows Automakers into Russia as Market Booms

Posted on 26 December 2012 by Ken Zino

The irony here is that Bosch opened it first sales office in Russia during 1904 under the Kaiser and the Czar. Certain political disputes resulted in devastating wars and revolutions during the next decade that changed the ruling orders in both Germany and Russia, among other places with future dire consequences. That is history. We are now talking about the wealth creation of that the automobile industry makes possible. Continue reading →

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EU Car Sales Continue to Evaporate in October – Off -5%

Posted on 19 November 2012 by Ken Zino

The economic decline of the European Union continued in October as sales of new passenger cars contracted by 5% to 959,412 compared to October of 2011. It was the thirteenth straight month of sales declines across the economically embattled Eurozone as the trade bloc comprised of 27 bickering nations is unable to move out of the economic doldrums. Continue reading →

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EU Passenger Car and Commercial Vehicles Sales Down Again

Posted on 17 July 2012 by Ken Zino

Thus far the European auto industry has done little to reduce its capacity, which is now widely discordant with constantly falling demand. GM is planning to close its Opel Zafira plant in Bochum, Germany after the run-out of the current Zafira in 2015, but that is not enough to return Opel to profitability after decades of losses totaling hundreds of billions dollars. Opel employs 20,800 people across Germany and more than 40,000 across Europe. The head of GM Europe was ousted earlier this month over the continuing losses and the lack of progress. Continue reading →

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February Car Sales Drop 10% as Eurozone Crisis Goes On

Posted on 15 March 2012 by Ken Zino

The dismal sales data, which has potential implications for the U.S. presidential election since all the Detroit Three companies are mired in losses from their European operations and previous taxpayer assistance remains controversial, confirmed what ACEA President Sergio Marchionne, the CEO of Fiat S.p.A. said two weeks ago. Continue reading →

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Volkswagen Group February Sales Up 15%, Europe Weak at 1%

Posted on 9 March 2012 by Ken Zino

Still, executives are cautious. “We are very satisfied with the Group’s noticeably positive performance. However, we will remain vigilant over the coming months in spite of this clear upward trend and are keeping a very close eye on the markets – especially in Western Europe,” said Christian Klingler, Group Board Member for Sales, in Wolfsburg on Friday. Continue reading →

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European Auto Sales Drop Continues Unchecked in November

Posted on 16 December 2011 by Ken Zino

Counter intuitively the Eurozone crisis is producing calls for austerity, instead stimulus plans that would increase tax revenues and employment from all industries, including auto manufacturing and sales. The automobile industry in Europe provides employment for more than 2.3 million workers and supports another 10 million jobs in related industries. Annually, automakers invest more than €30 billion in R&D, which makes it the largest private investor in R&D in Europe. Europe’s increasing instability poses risks for European, as well as the global economy. It could even affect the outcome of the U.S. presidential election next year. Continue reading →

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Toyota Moves East out of Euro Zone to Build Next Corolla

Posted on 29 November 2011 by Ken Zino

Neither country uses the Euro, which is crumbling in value as Eurozone crisis continues to increase, while EU leaders bicker over what steps to take about unsustainable, Greek, Italian and Spanish debt. So far the Greek and Italian governments have fallen, and serious questions are being raised about the political stability of the Spanish and French Governments. Continue reading →

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