UK: Western Europe's car market continued to slide in January [updated with data]
Car sales in Western Europe fell by 9.5% in January according to data issued by LMC Automotive, as the effects of the region's economic problems continued to depress demand. The January result equates to a Seasonally Adjusted Annualised Rate (SAAR) of sales of just 10.5m units a year.
LMC said that many markets disappointed and while there may be some impact from bad weather and strikes, the latest selling rate is the worst since 1987. Ongoing weak consumer confidence is clearly taking its toll, the forecasters said.
German car sales fell 8.6%, with the selling rate falling to just 2.8m units a year. The French market registered the lowest level of January registrations since 1997, down 15% on January 2012, with the selling rate last month standing at just 1.6m units a year.
The Italian car market's selling rate plummeted to a little over 1.1m units a year last month. The selling rate in Spain stood at 690,000 units a year — an improvement on the previous few months but bearing in mind this market is being supported by a scrappage incentive scheme, that rate also remains worrying. LMC said.
The UK car market continued to buck the wider trend of year-on-year falls seen in many other countries in Western Europe. UK registrations managed double-digit percentage growth in January 2013 with private sales once again the key driver to this improvement.
Although January can be a weaker month due to payback from year-end pushes to achieve sales targets, the latest result points to a tough year ahead, LMC warned. It has trimmed its forecast for the year and now expects the Western European car market to fall to just under 11.3m units in 2013.
Sectors: Vehicle markets
- COMMENT: ADAS rollout comes with human issues
- COMMENT: Why the VW Touareg Hybrid had to die
- THE WEEK THAT WAS: Driving for fun...
- THE WEEK THAT WAS: London on the show circuit?
- ANALYSIS: Will the XE work for Jaguar?
- Chinese brands have failed to catch on in Brazil
- London coming back on motor show circuit
- Finally, Ford's Mustang is 'official' for Europe
- Marchionne merger overtures to GM's Barra rebuffed
- Volvo China plant starts US exports
- Heavy Duty Trucks Market in Europe 2015-2019
- Global light vehicle engine technologies market- forecasts to 2029
- Global vehicle lightweighting - technology, trends and the future
- Global light vehicle OE connectivity market- forecasts to 2029
- Global light vehicle safety systems market- forecasts to 2029