West European Auto Sales Down in October image

In October auto sales dropped 4.9% in Western Europe, as the economic crisis continue to affect the region.

According to analysts at LMC the second half of 2012 seems to be worse than the first one for the West European auto market. As industry continues to be affected by the crisis, in Seasonally Adjusted Annualised Rate of sales terms the auto market remained at 11.2 million units per year. one of the most affected regions, France, reported the lowest sales level since 2008, with 1.85 million units a year, while Italy also reported a sub 1.4 million units a year selling rate. Although last month auto sales in Germany were up 0.5%, the year-to-date auto market in the country fell 1.6%.

UK was the only market to report an increase of 12.1% and an annualized sales rate of 2.1 million units a year. LMC noted that consumer confidence has improved compared with last year, and many buyers return to showrooms after they have postponed buying new cars to replace the old ones due to the economic turbulence. LMC predicts that by the end of the year the West European market will drop 8% and a further 2.7% in 2013.