Auto sales in Western Europe fell 11.4% last month, the 12th consecutive month of decline, as the economic crisis continues to affect the new car sales in the region.
LMC Automotive announced that the Seasonally Adjusted Annualised Rate (SAAR) of sales in the region last month was just 11.4 million vehicles a year, down than the 12.2 million units a year SAAR for the first 6 months of the year. All Western European markets reported decreased auto sales in September, with Germany, once the most powerful market in Europe, down 10.9%, Italy down 27%, France down 18.3%, and Spain down 37%, reaching an unbelievable low number of 560,000 units.
The UK market was the only one which managed to reach an increase of 8.2%, with sales reaching 2.1 million units a year mainly due to dealers ‘pre-registrations’ and widespread discounts. LMC predicts that by the end of the year the Western European market will see a decline of 8% compared with 2011 and that “we are in for more choppy waters ahead.”
As the economic crisis shows no signs of recovery, markets have already begun to look for new scrappage schemes to deal with overcapacity and increase sales. Spain has already come up with PIVE, a new scrappage inventive which will be available from this month until March 2013.