Although we saw just a modest 0.7% improvement in November’s car sales, the growth has led market analyst LMC Automotive to predict that sales in western Europe will improve by 2.6 % next year.
This would be the first increase in six years and would follow a forecasted 2.3 – 2.8% drop this year.
“After a couple of stronger months, the seasonally adjusted annualized rate (SAAR) of sales eased a little in November, though at 11.7 million units per year it continues to reflect an improvement from earlier in the year,” the forecaster said in a statement.
However, more detailed analysis by LMC of the November data reveals contrasting results in key markets. The UK, for example, put in another solid performance, gaining 7 % year‐on‐year, led by a year‐to‐date 15.4 % surge in private registrations.
On the other hand, the biggest European market, Germany, fell by 2 % last month and the selling rate once again dipped below 3 million units per year compared to a 2012 outturn of 3.1 million units.
Also, after the improvements of September and October, both the French and Italian markets weakened. French sales in November fell 4.4 % and the outlook is for a full year drop of 6.4 % to 1.7 million units. In Italy November sales fell 4.5 %, bringing the annual selling rate to 1.3 million units, down 7% on 2012.
Continuing to benefit from an ongoing scrappage scheme, Spain’s sales in November rose 15 % year-on-year but that still left its annualized selling rate at 746,000 units, just 3.4 % better than the actual 2012 outturn.
Via Automotive News Europe