European Car Sales Fell 7.1% in March, Turkish Sales Down 17%

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Researched by Industrial Info Resources (Sugar Land, Texas)--European new-vehicle sales in March fell 7.1% partly because of the debt crisis in the Euro zone and declining consumer confidence, research firm LMC Automotive said. This was the sixth consecutive month of year-over-year year declines, with nearly all markets shrinking.

The Seasonally Adjusted Annualized Rate (SAAR) of sales fell to an estimated 11.8 million units per year for the latest month. That figure would translate to an annual sale estimate to 11.99 million vehicles in 2012, the research company said.

The most troubled country in Western Europe is Italy. The Italian car market was already in bad shape this time last year, but plummeted a further 27% last month, taking the SAAR of sales down to 1.23 million units.

In Germany--Europe's largest auto market accounting for almost one in four cars sold in the region--new vehicle sales up 3.4%, which also equals 1.3 percent up in the market. Germany continued to perform better than its European neighbors and despite the ongoing economic concerns. UK sales were also a little higher in what is seasonally an important month because of the registration plate change. However, France and Spain both struggled compared to a year ago, with no suggestion that this situation will change any time soon.

TURKISH AUTO SALES DOWN 17% IN MARCH

Meanwhile, Turkish new-car sales decreased 17% in March to 68,831 units, and car production fell 10% \ year on year, according to the Automotive Industrialists Association data. March's decline of 17 percent in new-car sales was the eighth consecutive month of year on year declines for Turkish auto volumes.

Total vehicle sales decreased 26% to 144,000 units in first quarter of this year, while new car sales were down 16% to 142,000 units. The tightening conditions in credit markets with regard to cooling down efforts by Turkish Central Bank, decreased the vehicle sales in the country, the Association said in a statement.

The Turkish automotive market grew strongly by 13% in 2011, which represented the third consecutive year of growth. The market reached a level of 862,124 units, an all-time high. Turkish passenger car volumes increased by 16% to 593,165 units, while light commercial vehicle volumes were up by 7 percent to 270,920 units, according to Automotive Industrialists Association data.

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