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Economy in Brief

European Car Registrations Put in Another Good Month
by Robert Brusca November 14 2007

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
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