Bleak outlook for European automobile manufacturers – Fiat CEO
Sergio Marchionne, president and CEO of Fiat, painted a bleak picture of the immediate future for his industry in a message to the European Automobile Manufacturers' Association (ACEA).
Posts
September EU car registrations – UK bucks downward trend
NewsNew car registration figures for the EU from ACEA show that demand for new cars was down -10.8% in September, amounting to 1,099,264 units, compared with September 2011. Nine months into the year, the downturn reached -7.6%, with a total of 9,368,327 new cars registered in the EU.
Slow European demand/Nokian profit warning leads to share price drops
Career TracksShares in Nokian Tyres fell by as much as 12 per cent following a profit warning issued by the company today (16 October 2012). According to Bloomberg, the fall was the biggest drop since 5 August with prices tumbling to 29.94 euros (down 11 per cent) as of 15:08. But it didn’t stop there and instead the market experienced a degree of negative contagion following this news and similarly gloomy demand projections from European tyre makers.
New car registrations on the rise, at least in the UK
Company NewsPassenger car registrations increased slightly during the first six months of this year, reports the European Automobile Manufacturers Association (ACEA). The organisation, which represents the interests of eighteen European vehicle manufacturers, says UK registrations were up 2.7 per cent year-on-year to 1,057,680 units, growth that bucked the Europe-wide decline. A 6.8 per cent decrease in passenger car registrations was recorded in the EU27 and EFTA region, with 6,644,829 units registered.
European CV registrations – the slide continues in May
NewsIn May, ACEA figures show that new commercial vehicle registrations continued the downward trend commenced in January, facing the sharpest decrease since 2009 (-17.8 per cent , compared to May 2011). The UK was the only market to post growth in the month (+10.0 per cent ), while Germany (-13.6 per cent ), France (-22.1 per cent), Spain (-27.4 per cent ) and Italy (-42.4 per cent ) all recorded double-digit downturns. From January to May, the EU market shrank by 11.8 per cent, compared to the first five months of 2011.
European car registrations fall again
NewsFigures released by ACEA, the European association of automobile manufacturers, show that, in May, demand for new passenger cars in the EU was down (-8.7 per cent) for the eighth consecutive month. In total, 1,106,845 new cars were recorded in the region. May 2012 counted on average one working day less than May 2011.
Commercial vehicle registrations down in February
NewsOn 27 March the European Automobile Manufacturers’ Association, or ACEA, released its figures for commercial vehicle registrations during the month of February. These show demand for new commercial vehicles to be weaker in all major markets, with EU registrations declining 11.3 per cent year-on-year. The major market downturn ranged from 3.2 per cent in France to 29.9 per cent in Italy; the UK experienced a 16.6 per cent decline in total new commercial vehicle registrations. In total, 126,010 new commercial vehicles were registered in the European Union during February 2012, while UK registrations came to 11,102.
7.1 per cent fall in EU car registrations
NewsACEA, the European Automoblie Manufacturers' Association, has published figures showing that, in January, demand for new cars dropped by 7.1 per cent in the EU, compared to the same month a year earlier. In total, 968,769 new registrations were recorded in the region, with on average one more working day than in January 2011. These figures exclude Malta, for which data was unavailable.
UK the Largest European Car Market in March
NewsIn March, new passenger car registrations in the EU (excluding Cyprus and Malta) were 10.8 per cent higher than in the same month of 2009, according to ACEA figures. Over the first quarter of 2010 registrations rose by 9.2 per cent compared to the first three months of last year, yet were still 9.4 per cent lower than in the initial quarter of 2008. Most major European markets recovered ground in comparison with early 2009, reflecting the ongoing effect of government incentive programmes. The UK, for example, accounted for almost 400,000 new cars, or 26.6 per cent more than in 2009 – thereby becoming the largest EU market during the month. In contrast, Germany – which in 2009 had successfully boosted registrations through its own scrappage scheme – saw registrations in this post scheme month shrink 26.6 per cent to 294,375 units.
February EU New Car Registrations Up 3%
NewsEuropean Automobile Manufacturers’ Association figures show that new car registrations over all European Union countries (excluding Cyprus and Malta, whose data was “unavailable”) rose 3 per cent in February 2010, compared with February 2009. A total of 974,346 new cars were registered in the covered territories. Compared to figures at the same stage of 2009 the small rise in February registrations means that there are 7.9 per cent more new cars on the EU’s roads in 2010. However, given that 2009 was a year in which financial turmoil prevailed, the evidence suggests that this rise has only partially eaten into the drop experienced from 2008; compared to figures recorded in that year, February 2010 has seen 15 per cent fewer registrations and 16 per cent fewer in cumulative year-to-date numbers. Spain, the UK, Italy and France all registered significant increases, while Germany, Romania, Hungary and Poland saw dramatic drops. In the same region, Renault Group, PSA Group (Peugeot and Citroen), Nissan and Kia were the manufacturers with notable increases, while Toyota Group saw a significant drop.
European CV Sales Down 32.4% in 2009 – ACEA
NewsThe European Automotive Manufacturers’ Association has confirmed what we already knew – last year commercial vehicle registrations plummeted. According to ACEA figures, new registrations of commercial vehicles was down 32.4 per cent compared with 2008, and this downturn affected all segments and all countries represented by the organisation. In total, 1,706,996 vehicles were registered throughout the year.
EU-Korea Free Trade Agreement Will Aid Tyre Sales
Editorial/Comment, International News, NewsOn 15 October EU Trade Commissioner Catherine Ashton and Korean Trade Minister Kim Jong-hoon initialled a free trade agreement (FTA), which the EU calls “the most important ever negotiated between the European Union and a third country.” Estimated to be worth a total of 19 billion euros in new trade for EU exporters, the agreement is designed to remove virtually all tariffs between the two economies.
However, it is a bilateral deal. And European carmakers, apparently fearful of being swamped by imports of more economically priced Korean cars in an already depressed market, were the first to call for a rethink through industry body ACEA. However this appears to have been too little too late and according to the commission, the initialling signals the end of negotiations. The current “stable legal text” will be formally presented to EU Member States in early 2010. So what does this mean for the European tyre (and associated product) markets?
ACEA Urges EU to Re-Write ‘Bad’ South Korean Free Trade Agreement
NewsEuropean carmaker’s association ACEA has written an open letter to the European Commission urging it to reassess the conditions of the forthcoming free trade agreement (FTA) with South Korea. According to the ACEA, the FTA will “have a significant impact on jobs and competitiveness in the EU economy and rushing into signing a bad agreement is wrong.” ACEA reported that the trade commissioner intends to initial the FTA in October.
European New Car Sales Fell 8% in 2008
Product NewsWestern European new car registrations fell 8 per cent in 2008, while the monthly figure for December plummeted 19 per cent. According to the European car makers’ association, ACEA, this is the sharpest annual fall since 1993. However, according to market analysts, the fact that there were two extra selling days in 2008 means that when 2007 and 2008 are compared like-with-like the results are actually worse than those published.
The UK market was one of the three worst affected in Western Europe, with registrations falling 21 per cent year-on-year and 11 per cent year-to date. The Spain was the only market worse affected than the UK. According to the ACEA figures, Spanish new car registration were 50 per cent down year-on-year and 28 per cent down year-to-date.
UK New Car Sales Drop More than 35% in November
Product NewsSales of new cars in the UK plummeted in November to 100,333 units, a decrease of 36.8 per cent on last year’s figures. These dismal results, released by the Society of Motor Manufacturers and Traders (SMMT), represent the greatest monthly drop since June 1980. During the year to November, car sales totalled 2,023,104 units, down 10.7 per cent on the first 11 months of 2007.
