Kilcrohane
Porsche Perfektionist
Contrary to the overriding impression of buoyancy in the car industry by the media and a riot of new product to stimulate further growth, the reality has never been so different.
March sales/registration figures now starting to roll in:
Spain -14%
France -16%
Sweden -21%
...
Portugal down to an annualised circa 70,000 units a year for 10m population - 3rd World level.
Not only are these figures dreadful, they are declines off an already historically low base, after major declines in 2012.
Figures later today from Italy and Germany are expected to show similar double-digit declines.
The only major market in Europe still showing year-on-year gains is UK, but that is due to pre-registering on an epic scale and unsustainable sub prime-like finance offers, like 5 years to pay at 0% interest and zero downpayment, from GMAC/Ally.
The mainstream media want you to believe the global recovery story. The reality has never been so divergent.
Even the U.S. is make-believe, with distortions caused by 'channel stuffing' of dealers, and again sub-prime financing deals, to boost sales figures. Yesterday, the U.S. 'PMI' manufacturing index missed estimates by the most in 13 months, driven by a collapse in new orders.
Petrol/diesel in Europe is around $8 for a US gallon. The continent-wide 'cold snap', has doubled many people's fuel bills. Money left over for discretionary spending, like for a new car, is near non-existent.
The truth is, contrary to the daily peddled recovery/'Bright Future' meme by the media, the global car industry is in collapse, and has been since mid 2012, following the debt-driven global recovery of 2009-12.
It's fascinating that this reality has been able to be held from the ordinary folk for so long.
I, like you, love all the new, wonderful products this year. The problem is, however, 99% of the world's potential car buying population are tapped out by double digit price rises for staples and flat wages. The riot of new product, centred on around $50-100k purchase price, cannot be supported by the rapidly disappearing middle classes in Europe, the U.S. and elsewhere, the ones who still have a safe, well-paying job and substantial savings.
I said the last time I was here, around September 2012, that 2013 would be all about $/€10k runabouts, and not $50-100k high-end luxury and SUVs.
New product, like the S-class my move the needle a bit temporarily, but the reality is the buying of new cars in Europe and spreading elsewhere has collapsed and the reality of a global car industry in a flat-out tailspin will emerge from the media-hidden false reality this year.
March sales/registration figures now starting to roll in:
Spain -14%
France -16%
Sweden -21%
...
Portugal down to an annualised circa 70,000 units a year for 10m population - 3rd World level.
Not only are these figures dreadful, they are declines off an already historically low base, after major declines in 2012.
Figures later today from Italy and Germany are expected to show similar double-digit declines.
The only major market in Europe still showing year-on-year gains is UK, but that is due to pre-registering on an epic scale and unsustainable sub prime-like finance offers, like 5 years to pay at 0% interest and zero downpayment, from GMAC/Ally.
The mainstream media want you to believe the global recovery story. The reality has never been so divergent.
Even the U.S. is make-believe, with distortions caused by 'channel stuffing' of dealers, and again sub-prime financing deals, to boost sales figures. Yesterday, the U.S. 'PMI' manufacturing index missed estimates by the most in 13 months, driven by a collapse in new orders.
Petrol/diesel in Europe is around $8 for a US gallon. The continent-wide 'cold snap', has doubled many people's fuel bills. Money left over for discretionary spending, like for a new car, is near non-existent.
The truth is, contrary to the daily peddled recovery/'Bright Future' meme by the media, the global car industry is in collapse, and has been since mid 2012, following the debt-driven global recovery of 2009-12.
It's fascinating that this reality has been able to be held from the ordinary folk for so long.
I, like you, love all the new, wonderful products this year. The problem is, however, 99% of the world's potential car buying population are tapped out by double digit price rises for staples and flat wages. The riot of new product, centred on around $50-100k purchase price, cannot be supported by the rapidly disappearing middle classes in Europe, the U.S. and elsewhere, the ones who still have a safe, well-paying job and substantial savings.
I said the last time I was here, around September 2012, that 2013 would be all about $/€10k runabouts, and not $50-100k high-end luxury and SUVs.
New product, like the S-class my move the needle a bit temporarily, but the reality is the buying of new cars in Europe and spreading elsewhere has collapsed and the reality of a global car industry in a flat-out tailspin will emerge from the media-hidden false reality this year.
