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European Union's monthly car sales drops to 19-year low

By SYF77 on 19 Dec 2012

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If you think that the global economy is on its way to recovery, think again. Cumulative car sales in the European Union (EU) from January to November 2012 have fallen to a 19-year low. It dropped 7.2 percent to 11.7 million units, the lowest figure since 1993.

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The decline was propelled by a 10 percent plunge in November. The European Automobile Manufacturers' Association expects a full-year market contraction to about 12 million cars, the fewest cars sold in Europe since 1995.

Below are the November statistics of some of the affected car makers:

Renault: -27.4 percent

PSA Peugeot Citroen: -16 percent

GM (Opel, Vauxhall, Chevrolet): -13 percent

Ford: -10.2 percent

VW: -2.5 percent

However, BMW and Mercedes managed to buck the market trend and recorded sales growth of 0.4 percent and 1.5 percent for November respectively. Perhaps, workers in Fiat and Peugeot should start looking for job opportunities with the two German car makers as their companies have announced plans to cut 1,500 jobs each.

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Written by SYF77
I have been a car fanatic since 1989, when my father was changing our family car then to a Toyota Corolla 1.6 GL fitted with a Twin Cam 16 valve engine that was carburetor-fed, a big deal back in those days. The automobile technology and industry fascinates me and I hope to broadcast these interesting developments to everyone out there through this blog.

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