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Someone in Europe is buying cars: New car registrations in the U.K. rose 12.1% in October,...

Someone in Europe is buying cars: New car registrations in the U.K. rose 12.1% in October, according to the U.K. Society of Motor Manufacturers and Traders. Based on the solid month, the agency upped its forecast for the full year to over 2M units. Best sellers in the region included the Ford Fiestsa, Opel Corsa, and Ford Focus.
Comments (3)
  • The UK has just had two major events -- the Queen's 60th Jubilee and the Olympics. It stands to reason that at least few businesses and people made money and can afford to buy new vehicles.
    6 Nov 2012, 10:47 AM Reply Like
  • Most of the problems in Europe involve certain EU nations like Greece and Spain (and several others), which ran up huge amounts of bad debt (as did America); and they are now unable to dig out of it (as America had to). Unemployment (with state benefits) is practically the standard. They are being forced to find ways to cut deficit spending, without raising taxes even further, and keep the citizens warm and fed, without causing inflation. They are essentially looking for the rest of the world to bail them out.

     

    Other EU nations, like Germany and the UK, are apparently in relatively better shape, at least in terms of ability to sustain and service their debt loads; and folks are getting by well enough to replace their worn out vehicles.

     

    Interestingly the average age of vehicles in England is around 7.4 years, and in Germany it is around 8.5 years. The average age for passenger vehicles across the EU is also around 8.5 years. This is most likely due to governments encouraging consumers to turn in their old, inefficient, polluting vehicles in favor of new fuel efficient versions.

     

    By comparison, in the US the average age of vehicles is now about 11 years old, up from 9 years old in 2000, 6.5 years in 1990, and 5 years old in 1970.

     

    Cars in the US seem to be lasting twice as long as they did just 30 years ago. It seems that 200,000 miles is the new 100,000 miles in terms of life expectancy in a passenger vehicle. Which may be the ultimate unintended consequence of dramatically improved quality in mechanical components and systems in vehicles today.
    6 Nov 2012, 11:48 AM Reply Like
  • We have gone through so much Euro/UK trauma in the past two years that a little good news goes a long way.

     

    It seems to me like there ought to be more coming.

     

    Good news, that is.
    6 Nov 2012, 12:10 PM Reply Like
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