“Nien! Nien! Nien!,” is the cry from the German auto industry as new car sales in the once-proud nation plunged by more than 10 percent year-over-year in February. The woes of our Teutonic friends are the same weigh heavily on the bowing backs of the rest of our European cousins. If there’s one thing we Americans ought to be thankful for it’s that our grandpappi got on that boat all those years ago.
In the old-tyme continent as a whole, car sales last year were the lowest they had been in 17 years, which is the polar opposite of the American auto industry as it kept purring on all cylinders as it revved ahead. Cars sales in the U.S. jumped by close to four percent year-over-year last month.
Germany’s double digit drop was not as steep as the falls experienced by Italy and France, whose auto industries fell by 17 and 12 percent year-over-year respectively in February.