As the Monty Python team sang it at the end of The Life of Brian: ‘Always look on the bright side of life….’ 2003 will obviously be a bad year for sales in Europe, but there is good reason to believe that things will be better next year. Deutsche Bank calculates that Europe will see an accelerating number of new car launches in coming years. It says that only 17 per cent of manufacturers’ car ranges are set for renewal in 2003, but that this will rise to 22 per cent in 2004, and 23 per cent in 2005. “Next year is set to be an important year with the new Peugeot 107, Renault Clio MPV, VW Polo MPV, Opel Astra, Citroen C4, Peugeot 407, and VW Passat. In 2004, VW (27 per cent), Opel (29 per cent) and Fiat (30 per cent) should have the strongest renewal rates in the industry,” Deutsche Bank said. That will act to stimulate sales and if the European economy revives too, then things ain't that bad really, are they?