August is a holiday month for Europe’s statisticians. So we had to wait until yesterday for a combined summary of July and August’s EU auto sales. As the chart shows, they indicate a new slowdown is underway after the more encouraging volumes at the start of the year: Sales were up only 5.6% in July and 2.1% in August (red square), […]
Chemicals and the Economy
Auto sales on roller-coaster ride in Japan, Russia, Brazil, India
Car sales in Japan, Russia, Brazil and India currently account for just under 1 in 5 of global sales. Their market share peaked at 21% in 2008, but is today back at 2005’s level of 17%. As the chart shows, it has been a roller-coaster ride for all of them: Japan’s 4.7m sales were 10% of the global total […]
Europe unprepared for hard winter without Ukraine gas
There is an alarming naivety about Western policymakers’ response to events in the Ukraine. They have simply chosen not to recognise that Russia’s strategic objectives are no longer about building links with Europe, but are instead about creating a Eurasian Economic Union (EEU). Thus they assume that Russia will always put its economic interests ahead of its political objectives. And […]
Europe faces Russian gas and oil supply risk over Ukraine
History shows that that governments usually lose arguments with energy suppliers. UK premier Harold Macmillan summed up the position when talking about coal miners in the 1950s, warning: “There are three bodies no sensible man directly challenges: the Roman Catholic Church, the Brigade of Guards and the National Union of Mineworkers” Unfortunately, Europe now potentially faces an argument with its leading gas […]
Crimea referendum highlights growing geo-political risks
Markets have been remarkably calm ahead of Crimea’s planned Sunday referendum to leave Ukraine and join Russia. Yet as Associated Press has reported: “The Group of 7 world leaders say they won’t recognize results of a referendum for the Crimea region to split from Ukraine and join Russia. A statement from the seven nations released from […]
Global auto industry sales growth depends on China
Autos remain the world’s largest manufacturing industry, and the single biggest source of demand for chemicals and plastics. According to detailed analysis by the American Chemistry Council, each new US auto is worth $3,539 in terms of sales – and involves a wide range of products including antifreeze, plastic dashboards, bumpers and windows, as well as upholstery […]
China auto sales jump to meet pollution quota deadline
China’s auto sales moved past Europe’s in 2010, and are now close to US levels. But even China is not expected to maintain this surge in 2014. As the chart above shows, sales soared in the past few months (red line) versus 2012 (green). But as the automotive association explains, this was mainly because: “Panic consumption over […]
Brazil, Russia, India car sales fall for first time in 10 years
Since 2009, the 4 BRIC nations (Brazil, Russia, India and China) have been the focus of every car manufacturers’ dreams. Whilst the West worried about ageing populations and its financial crisis, the BRICs seemed to have moved into a new dimension. Today, however, reality is beginning to set in: Auto sales in Brazil (the world’s […]
Russia’s growth stalls in 2012, as new capacity comes online
The blog’s annual review of the Russian market showed production growth stalled in 2012. Output had picked up sharply in 2010-11 following the 2009 crisis. But as the chart shows, based on latest data from statistics agency Rosstat, today’s outlook has become more difficult. As always, the blog is grateful to ICIS’ Sergei Blagov for […]
Boom/Gloom Index stalls as austerity worries rise
EU policymakers like to pretend that the Eurozone debt crisis was resolved by the adoption of last March’s new Treaty. An even more disturbing thought is that they might even believe their own propaganda. Who knows? But on the ground, it is crystal clear that the problems continue to multiply. Latest data from the Bank […]
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