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Jan 03

Vrooom!

Continent in Crisis
China Overtakes Sluggish Europe in Car Sales

http://cdn4.spiegel.de/images/image-443553-panoV9free-sohb.jpg
Reuters
Chinese consumers bought more cars than their European counterparts in 2012.

While European consumers spent much of 2012 fretting about the economic crisis, China managed to surpass the Continent in automobile sales for the first time. Given China’s growing middle class, the trend looks set to continue. China will probably outpace Europe in vehicle production this year, too…

Meanwhile back in the USA:

U.S. auto sales vroom 13% in 2012 as the industry enjoys its best performance in five years

But for the coming year, who knows? Could there be another auto cliff?

Mark Collins is a prolific Ottawa blogger

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