After The Scrappage, The Carnage

[copydude]

European Car Sales See 9.2% Fall

link

Car giants including Toyota, Fiat and Ford have seen steep falls in European sales, underlining the impact of last year's car scrappage schemes.

In September, new registrations of Fiat cars were 21% lower than the same time last year, when incentive schemes boosted sales.

Toyota also saw a 21% fall, while Ford car sales were down 20%.

Overall, registrations of new cars in Europe were 9.2% lower, with 1.26 million new vehicles registered.

The year-on-year fall is the sixth decline as many months, with all major European markets down. In the UK, new car sales were 8.9% lower, while France and Germany saw falls of 8.2% and 17.8% respectively. Spain saw the biggest fall, dropping 27.3%.

As posters here observed at the time, a boom and bust is bad enough without going out of your way to create one.

In other news, the British Motor show, cancelled in 2010, has just been cancelled again for 2012 due to lack of interest. Link.

[R K]

The Carnage Scheme.

Has a certain ring to it!

Perhaps you should email the idea to Lord err......who is the Lord responsible for giving people lots of cash these days?

[tinker]

Hardly a surprise really. Still when the scheme was implemented, there was an election in the offing, so it was only the short-term impact that mattered not the long term one.

Short-termism and political interference is probably the thing that does the most damage to this country.

How hard can governing be:

1. Work to a budget

2. Don't indulge in fantasy finance

3. Use your nous (apply some logic)

4. Use a bit of common sense.

5. Be as fair as you can be to all of the people

6. Be honest and up front (create that culture)

[feed]

I don’t have access to September figures yet, (wasn't aware full industry figure has been complied, but still) only August and I'm seeing for EU19

YOY 0810 -1.6% (-145k) cars

YOY 0810 +3% (+42k) commercials

August was 11% down on 2009, at 800k or so.

But couple of things you may want to consider:

Mahindra And Mahindra Auto sales grow by 29 %

Toyota Kirloskar Motor Sales Grow by 26 %

Tata Motors India sales grow by 32.38 %

Hyundai India sales grow by 17.2 %

Chevrolet India or General Motors Sales go up by 34 %

Maruti Suzuki India Limited sales grow by 23.56% with highest ever car sales in a month ever in history of Maruti Suzuki India

Ford India Sales go up by 220 % , this exceptional growth is because of excellent sales of its small car Ford Figo

Skoda India Sales Growth is 24 %

BEIJING-- China's domestic automakers sales to auto dealers rebounded 6.29 percent month on month to 1.322 million units in August after a monthly decline in July, the China Association of Automobile Manufacturers (CAAM) said here Thursday.

China overtook the United States to become the world's largest auto maker and auto market in 2009, with output and sales respectively hitting 13.79 million and 13.64 million units last year.

[Jack's Creation]

Anyone have any anecdotals on how used Car sales are bearing up?

[Bear Monger]

Subsidising consumers to bring demand forward results in lower demand at a later date with no real overall benefit. This must be one of those unexpected falls they talk about that is obvious to anyone with an ounce of common sense.

Edited for better English

Edited October 15, 2010 by Bear Monger

[erranta]

European Car Sales See 9.2% Fall

link

As posters here observed at the time, a boom and bust is bad enough without going out of your way to create one.

In other news, the British Motor show, cancelled in 2010, has just been cancelled again for 2012 due to lack of interest. Link.

They stuck all the car prices up before the scrap-scheme date came in - so wiped out any saving and made a load more profit for themselves!

They now have over-priced cars no one wants - without a massive discount.

Will they ever reduce their retail prices?

Big Business + their cohorts in UK Govt are pure population scammers!

PS If you are not careful - your "Brand NEW car" could have been sitting (rusting away) on an airfield for well over a year!

[pilchardthecat]

I imagine the sales are down mainly because of all the people that brought forward their spending because of scrappage. They just moved sales from one period to another.

The **** has fallen out of the used market too, in fact it's worse if anything. You want to be careful buying a used car now because half of them have been parked up for 6-9 months.

[feed]

They stuck all the car prices up before the scrap-scheme date came in - so wiped out any saving and made a load more profit for themselves!

They now have over-priced cars no one wants - without a massive discount.

Will they ever reduce their retail prices?

Big Business + their cohorts in UK Govt are pure population scammers!

PS If you are not careful - your "Brand NEW car" could have been sitting (rusting away) on an airfield for well over a year!

8.8 Million cars sold EU19 2010 Year to August. So that's a few people who want cars

Will they ever reduce their retail prices?

No. Can't afford it, you don’t get to buy it. Sorry. There is a much bigger push towards profitablity in EU, over volume. The volume pissing contest has moved to China/India

Oh, and government didn't deliver much for big business in the UK, industry wanted a German style scappage with some real value.

Any pull ahead into 2009 from scrappage really refers to Germany.

[lulu]

How hard can governing be:

1. Work to a budget

2. Don't indulge in fantasy finance

3. Use your nous (apply some logic)

4. Use a bit of common sense.

5. Be as fair as you can be to all of the people

6. Be honest and up front (create that culture)

But then no one will vote for you, the idiot spending and lending of the last 13 years secured Labour their record tenure in office, the matching cutting and paying back will land the Tories in the poo and ensure a rush back to Labour by people who much preferred a made up economy based on made up figures.

[mattyfc]

But then no one will vote for you, the idiot spending and lending of the last 13 years secured Labour their record tenure in office, the matching cutting and paying back will land the Tories in the poo and ensure a rush back to Labour by people who much preferred a made up economy based on made up figures.

The complete lack of concern for long term consequences seems to be the main problem. That and the low level of understanding of economics in most of the country. You can borrow and spend like crazy for a while, everything looks great until the interest and repayments kick in. Unfortunately by this time the politicians responsible are gallivanting round the world raking in the cash from Book signings and speeches.

There is no reason for the government to borrow money at all, other than for very long term infrastructure projects. Surely the solution is to prevent the Government from taking on any debt that is not related to such infrastructure projects. Plod should march in and arrest the chancellor if they try it.

Politicians will run our credit right to the limit if they think they stand a better chance of election. This is treason and the law should be changed to encompass this crime.

We will be forever doomed to the same cycle if nothing is done.

[exiges]

When the 20% VAT rate kicks in, sales are going to fall further too

[exiges]

Anyone have any anecdotals on how used Car sales are bearing up?

At the luxury end they're not looking too clever. Until mid-2009 things were dead, then once the oversupply had been consumed and only no orders were being made prices started to firm up - indeed I managed to sell a few cars back to the dealers I bought them from for more than I paid.

However, I checked yesterday at cars that were fetching strong money a few months ago and they've started to look very wobbly again. Things like Astons, high end Mercs and even Phantoms aren't looking great.

Recently a very tidy, relatively low mileage Veyron went for £625,000 at auction -- someone took a massive bath on that.

[Bloo Loo]

this was totally unexpected.

[lets get it right]

Still a hell of a lot of people with the money to buy new cars.

[Cosmic Apple]

Still find it amazing driving through a rural town looking at the reg plates, 56 and above seems to be pretty much 60% of the cars on the road. Maybe 3 in ten being 51 or above and 1 in 10 being older. Where the money comes from I don't really know.

[Bloo Loo]

Still find it amazing driving through a rural town looking at the reg plates, 56 and above seems to be pretty much 60% of the cars on the road. Maybe 3 in ten being 51 or above and 1 in 10 being older. Where the money comes from I don't really know.

neither do banksters....thats why they needed a bailout.

[chris25]

Still find it amazing driving through a rural town looking at the reg plates, 56 and above seems to be pretty much 60% of the cars on the road. Maybe 3 in ten being 51 or above and 1 in 10 being older. Where the money comes from I don't really know.

I have noticed the same thing around here. Sometimes when out and about I notice that at least 80% of cars are 2005 or older.

And these aren't just crappy new Kia's or Hyundai's but MINI's, BMW's, Audi's and Land Rover's.

The wealth level in this country is remarkable considering on paper we are a total economic basket-case.

[thefilbetrfox]

Anyone have any anecdotals on how used Car sales are bearing up?

At the auction, cars are acheiving guide prices.... but they have to be the right spec, colour and mileage. Anything else is struggling.

Van sales are suffering and values have been falling for the past few months.

On another note, one of the used value guides also has another product which predicts the future residual values of cars. i.e., how much a new car will be worth in 3 years time.

Within their notes they have some blurb on the prediction of the economy. Thought you peeps might like to see it...

Dependencies For and Risks To This Outlook

The consensus forecasts are based upon a number of assumptions.

Dependencies

1. Calculated use of the current Monetary and Fiscal Policy frameworks to avoid a housing market or consumer confidence crash.

2. Euro zone growth to accelerate and open up markets for UK exporters. The Euro zone needs to play its part in sustaining the

global economy.

3. Return of general business confidence, so planned business investment can pick up

Risks

1. Oil prices rise massively due to increased global demand and instabilities, leading to increased price inflation, thus interest

rates having to be raised a lot quicker.

[spireite]

Still find it amazing driving through a rural town looking at the reg plates, 56 and above seems to be pretty much 60% of the cars on the road. Maybe 3 in ten being 51 or above and 1 in 10 being older. Where the money comes from I don't really know.

i had to buy a newer car than what i wanted due to their being sod all low mileage quality used cars over ten years old,i also needed an auto which doesnt help

[Fishman]

The Carnage Scheme.

Has a certain ring to it!

Perhaps you should email the idea to Lord err......who is the Lord responsible for giving people lots of cash these days?

I reckon the Carnal Scheme would provide a stiffer boost.....

[MrPin]

Recently a very tidy, relatively low mileage Veyron went for £625,000 at auction -- someone took a massive bath on that.

I'm not surprised!

The whole of Darlington isn't worth that!

[Self Employed Youth]

Anyone have any anecdotals on how used Car sales are bearing up?

My unemployed neighbour has been buying and selling a lot more than usual.

[blankster]

Maybe more and more petrolheads are being infected with tinboxitis - a condition which makes the sufferer prone to saying "any tin box will do as long as it gets me from A to B without breaking down".

Edited October 15, 2010 by blankster