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Passenger car demand in Europe down for 14th consecutive month in November

In November, demand for new cars in the EU was down for the fourteenth consecutive month, dropping by 10.3% compared with November 2011 which counted on average the same number of working days in the region, according to figures from the European Association of Automobile Manufacturers (ACEA).

In total, 926,486 new cars were registered. From January to November, the EU recorded 11,255,094 new cars, or 7.6% less than in the same period a year ago.

New car registrations in November were up 11.3% in the UK, while declining in all other significant markets: -3.5% in Germany; -19.2% in France; -20.1% in Italy; and -20.3% in Spain. A vast majority of markets contracted, leading to the overall 10.3% downturn in the EU, which totaled 926,486 new cars.

From January to November, the picture was somewhat similar, with the UK being the only major market to expand (+5.4%) and Germany (-1.7%); Spain (-12.6%); France (-13.8%); and Italy (-19.7%) all contracting. Over eleven months, demand for new cars in the EU fell by 7.6%, amounting to 11,255,094 units, a historical low since 1993.



EU seems to be in an extended recession? Will North America follow or are we already in the same track? How long can we keep printing more $$$$$$ before reality hits us too?

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