Global| Nov 14 2007European Car Registrations Put in Another Good Month
Summary
European car registrations jumped by 11.6% Y/Y following a drop of 8.2% in September. Despite gains in two of the past three months, sales are still lower year to date in 2007, by 0.4% compared to sales last year. Germany lags the [...]
European car registrations jumped by 11.6% Y/Y following a
drop of 8.2% in September. Despite gains in two of the past three
months, sales are still lower year to date in 2007, by 0.4% compared to
sales last year. Germany lags the most as its year-to-date (YTD) sales
are lower by 7.7% through October. Spain is also lagging but with sales
off by 1.6% YTD. Italy is up strongly, by 6.9%, on a year-to-date
basis- surprising for a country where growth has been so weak. The UK
and France have stronger year-to-date numbers of 1.4% and 0.9%
respectively. Auto sales are mostly weak on the back of the German VAT
tax hike that shoved sales into late 2006 to avoid the tax. Apart from
that, European sales are doing ok. Excluding Germany European auto
sales are up by 2.6% over last year on a YTD basis.
| Ezone Car Registrations | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Mo/Mo % | 3-Mo Trend From |
6-Mo Trend From |
12-Mo Trend From |
||||||
| All Seas Adj | Oct 07 |
Sep 07 |
Aug 07 |
Oct 07 |
Sep 07 |
Oct 07 |
Sep 07 |
Oct 07 |
Sep 07 |
| Ezone Registrations | 11.6% | -8.2% | 3.8% | 28.0% | -17.5% | 32.2% | -10.9% | 4.2% | -4.1% |
| Germany: | 6.2% | -7.4% | 6.3% | 19.5% | 5.4% | 31.6% | -5.5% | -4.1% | -11.1% |
| France (WDA) | -0.2% | 3.7% | -4.1% | -2.9% | 12.0% | 11.7% | 7.5% | 4.6% | 7.7% |
| Italy | 11.5% | -10.6% | 10.5% | 47.2% | -39.0% | 10.8% | -12.4% | 8.5% | -0.3% |
| Spain | 11.4% | -9.5% | 5.3% | 27.3% | -25.0% | 28.1% | -25.8% | 3.8% | -7.9% |
| UK | 7.1% | 22.0% | -20.0% | 19.6% | -0.3% | 11.6% | -8.2% | 7.2% | -0.6% |
| Base Month of Calc | Sep-07 | Aug-07 | Jul-07 | Jul-07 | Jun-07 | Apr-07 | Mar-07 | Oct-06 | Sep-06 |
Robert Brusca
AuthorMore in Author Profile »Robert A. Brusca is Chief Economist of Fact and Opinion Economics, a consulting firm he founded in Manhattan. He has been an economist on Wall Street for over 25 years. He has visited central banking and large institutional clients in over 30 countries in his career as an economist. Mr. Brusca was a Divisional Research Chief at the Federal Reserve Bank of NY (Chief of the International Financial markets Division), a Fed Watcher at Irving Trust and Chief Economist at Nikko Securities International. He is widely quoted and appears in various media. Mr. Brusca holds an MA and Ph.D. in economics from Michigan State University and a BA in Economics from the University of Michigan. His research pursues his strong interests in non aligned policy economics as well as international economics. FAO Economics’ research targets investors to assist them in making better investment decisions in stocks, bonds and in a variety of international assets. The company does not manage money and has no conflicts in giving economic advice.
More Economy in Brief
