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Hopes of a bottoming of the European have been frustrated, and the small April uptick turned out as a flash in the pan. We warned in April not to read too much into car data, caused by a curious confluence of calendars. We predicted two weeks ago that the EU market will continue on its downward trajectory. And so it does. The new car market throughout the EU was down 5.9 percent in May, the auto manufacturer association ACEA says. For the year, the market is down 6.8 percent. Among the volume markets, the UK (+11 percent) is the only one that is not down. Across the Channel, France is down 10.4 percent. | New Car Sales Europe May 2013 | | | | | 18/6/13 | | May | January – May | | %Share | | Units | Units | % Chg | %Share | | Units | Units | % Chg | | '13 | '12 | '13 | '12 | 13/12 | '13 | '12 | '13 | '12 | 13/12 | | ALL BRANDS | | | 1,042,742 | 1,107,942 | -5.9 | | | 5,070,840 | 5,443,226 | -6.8 | | VW Group | 25.4 | 24.6 | 264,768 | 272,375 | -2.8 | 24.9 | 24.0 | 1,261,959 | 1,304,930 | -3.3 | | VOLKSWAGEN | 12.7 | 12.9 | 132,255 | 142,623 | -7.3 | 12.6 | 12.7 | 636,665 | 690,044 | -7.7 | | AUDI | 5.9 | 5.7 | 61,368 | 63,364 | -3.2 | 5.7 | 5.4 | 288,467 | 295,428 | -2.4 | | SEAT | 2.5 | 2.1 | 25,559 | 22,770 | +12.2 | 2.4 | 2.0 | 120,706 | 109,794 | +9.9 | | SKODA | 4.0 | 3.9 | 41,205 | 43,351 | -5.0 | 3.9 | 3.8 | 196,512 | 208,551 | -5.8 | | Others (1) | 0.4 | 0.0 | 4,381 | 267 | +1540.8 | 0.4 | 0.0 | 19,609 | 1,113 | +1661.8 | | PSA Group | 11.0 | 12.0 | 115,191 | 132,670 | -13.2 | 11.2 | 12.1 | 569,379 | 660,987 | -13.9 | | PEUGEOT | 6.1 | 6.5 | 64,034 | 72,191 | -11.3 | 6.2 | 6.5 | 312,806 | 354,190 | -11.7 | | CITROEN | 4.9 | 5.5 | 51,157 | 60,479 | -15.4 | 5.1 | 5.6 | 256,573 | 306,797 | -16.4 | | RENAULT Grp | 8.2 | 8.5 | 85,081 | 94,535 | -10.0 | 8.5 | 8.4 | 431,341 | 458,504 | -5.9 | | RENAULT | 5.8 | 6.6 | 60,429 | 73,274 | -17.5 | 6.3 | 6.7 | 318,433 | 362,610 | -12.2 | | DACIA | 2.4 | 1.9 | 24,652 | 21,261 | +15.9 | 2.2 | 1.8 | 112,908 | 95,894 | +17.7 | | GM Group | 8.4 | 9.0 | 87,943 | 99,183 | -11.3 | 8.0 | 8.3 | 403,784 | 453,822 | -11.0 | | OPEL/VAUXHALL | 7.2 | 7.4 | 74,563 | 81,679 | -8.7 | 6.8 | 6.8 | 346,108 | 369,590 | -6.4 | | CHEVROLET | 1.3 | 1.6 | 13,373 | 17,482 | -23.5 | 1.1 | 1.5 | 57,584 | 84,069 | -31.5 | | GM (US) | 0.0 | 0.0 | 7 | 22 | -68.2 | 0.0 | 0.0 | 92 | 163 | -43.6 | | FORD | 8.0 | 7.5 | 82,953 | 83,185 | -0.3 | 7.5 | 8.0 | 378,432 | 433,926 | -12.8 | | FIAT Group | 6.9 | 7.3 | 72,227 | 80,930 | -10.8 | 6.6 | 6.8 | 333,058 | 368,039 | -9.5 | | FIAT | 5.4 | 5.4 | 56,155 | 59,763 | -6.0 | 5.1 | 4.9 | 259,109 | 265,264 | -2.3 | | LANCIA/CHRYS | 0.7 | 0.9 | 7,568 | 9,668 | -21.7 | 0.7 | 0.8 | 34,264 | 45,898 | -25.3 | | ALFA ROMEO | 0.6 | 0.8 | 6,647 | 8,792 | -24.4 | 0.6 | 0.8 | 29,297 | 43,616 | -32.8 | | JEEP | 0.1 | 0.2 | 1,463 | 2,380 | -38.5 | 0.2 | 0.2 | 8,697 | 11,352 | -23.4 | | Others (2) | 0.0 | 0.0 | 394 | 327 | +20.5 | 0.0 | 0.0 | 1,691 | 1,909 | -11.4 | | BMW Group | 6.3 | 6.4 | 65,392 | 70,455 | -7.2 | 6.3 | 6.0 | 316,998 | 325,579 | -2.6 | | BMW | 5.0 | 5.1 | 52,204 | 56,832 | -8.1 | 5.1 | 4.8 | 256,686 | 261,785 | -1.9 | | MINI | 1.3 | 1.2 | 13,188 | 13,623 | -3.2 | 1.2 | 1.2 | 60,312 | 63,794 | -5.5 | | DAIMLER | 5.6 | 5.2 | 58,360 | 57,977 | +0.7 | 5.5 | 5.0 | 281,182 | 274,826 | +2.3 | | MERCEDES | 5.0 | 4.6 | 52,533 | 51,103 | +2.8 | 5.0 | 4.5 | 251,632 | 242,580 | +3.7 | | SMART | 0.6 | 0.6 | 5,827 | 6,874 | -15.2 | 0.6 | 0.6 | 29,550 | 32,246 | -8.4 | | TOYOTA Grp | 4.0 | 3.9 | 41,413 | 43,566 | -4.9 | 4.2 | 4.4 | 210,579 | 239,555 | -12.1 | | TOYOTA | 3.8 | 3.7 | 39,865 | 41,278 | -3.4 | 4.0 | 4.2 | 202,441 | 227,093 | -10.9 | | LEXUS | 0.1 | 0.2 | 1,548 | 2,288 | -32.3 | 0.2 | 0.2 | 8,138 | 12,462 | -34.7 | | NISSAN | 3.2 | 2.9 | 33,747 | 31,884 | +5.8 | 3.6 | 3.5 | 181,353 | 188,161 | -3.6 | | HYUNDAI | 3.3 | 3.1 | 34,904 | 34,251 | +1.9 | 3.5 | 3.3 | 176,157 | 179,557 | -1.9 | | KIA | 2.8 | 2.8 | 29,449 | 30,556 | -3.6 | 2.8 | 2.5 | 139,786 | 136,573 | +2.4 | | VOLVO CAR | 1.7 | 1.6 | 17,427 | 18,050 | -3.5 | 1.7 | 1.8 | 84,924 | 95,402 | -11.0 | | JLR | 1.0 | 0.8 | 10,325 | 9,402 | +9.8 | 1.2 | 1.0 | 61,141 | 54,049 | +13.1 | | LAND ROVER | 0.8 | 0.7 | 8,183 | 7,512 | +8.9 | 1.0 | 0.8 | 49,075 | 43,839 | +11.9 | | JAGUAR | 0.2 | 0.2 | 2,142 | 1,890 | +13.3 | 0.2 | 0.2 | 12,066 | 10,210 | +18.2 | | HONDA | 1.0 | 1.0 | 10,401 | 10,777 | -3.5 | 1.2 | 1.0 | 61,006 | 55,165 | +10.6 | | SUZUKI | 1.2 | 1.2 | 12,095 | 13,189 | -8.3 | 1.2 | 1.2 | 60,129 | 67,354 | -10.7 | | MAZDA | 1.0 | 0.7 | 10,322 | 7,950 | +29.8 | 1.1 | 1.0 | 54,991 | 53,590 | +2.6 | | MITSUBISHI | 0.5 | 0.6 | 5,577 | 6,385 | -12.7 | 0.6 | 0.6 | 28,428 | 33,722 | -15.7 | | OTHER** | 0.5 | 1.0 | 5,167 | 10,622 | -51.4 | 0.7 | 1.1 | 36,213 | 59,485 | -39.1 | | Source: ACEA | | | | | | | | | | | Among the volume makers Daimler (+0.7 percent) and Ford (-0.3 percent) look the best. The Ford data give rise to the hope that the Blue Oval can stem the European hemorrhage earlier than others. Bloomberg says that " Ford is counting on new models such as the EcoSport compact sport-utility vehicle to help reduce reliance on low-margin sales to rental-car companies in Europe to stem losses in the region." Ford definitely has more reason for optimism than GM. The GM Group shows no sign of a turn-around, actually, its downward spiral is getting slightly steeper. Down 11 percent for the year, the GM Group was down 11.3 percent in May. RenCen's big hope, the Chevroletification of Europe as a counterweight to moribund Opel, fizzles fast. Chevrolet sales were down 23.5 percent in Europe, while Opel lost 8.7 percent. GM sold a grand total of 7 (seven) cars imported from America. Any hopes of Cadillac (not even on the list) creating trouble for European premium makers are seen as a symptom of a deranged mind in Europe. GM partner PSA was down 13.2 percent in May. Europe's largest maker Volkswagen looks relatively OK and should do better as its bread & butter Golf reaches wider distribution. Seat's comeback is interesting. Finally keep an eye on the low-cost brand Dacia, Renault's answer to European austerity programs.
from The Truth About Cars http://www.thetruthaboutcars.com |
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