Bleak State of the European Automobile Economy yet Germany Bucks the Trend

Registrations fall 6.4% in December and have been falling harshly for 4 consecutive months signaling a more trouble in the near term. In a report released this morning by the European Automobile Manufacturers Association, passenger car sales across the entire EU fell by 6.4% to 953,108 units in December. Year over year, new car demand was off a less damaging but still worrying 1.7%, bringing the total number of units registered at 13,111,209 and lower for the fourth consecutive year.