Half a BRIC Short
It wasn’t all that long ago that economists were rhapsodizing about the powerful potential of the BRIC countries—that’s Brazil, Russia, India, China—about how the BRICs were going to leave the Western countries in the dust.
Volkswagen Group announced this morning that it has had a record sales performance from January to November 2014, with deliveries of 9.08-million vehicles during that period.
“The ten-million mark is within reach in spite of all of the uncertainties in the global automotive sector,” said Christian Klinger, group board member for Sales.
Golf production in Wolfsburg, Germany
In Western Europe, sales were up 7.7%.
In Germany—which is calls out separately, given that it is, after all, the home base—sales were up 5.0%.
In Central and Eastern Europe, sales were up 1.3%.
In Russia—the R in BRIC—sales were down 12.9%.
In South America, Volkswagen Group sales were down 19.7% overall, with sales in Brazil—the B in BRIC—were down 15.8%.
So we have two of the four not performing well.
Things, admittedly, were better in the I and especially C.
In the Asia-Pacific region, sales were up 11.7%.
In China, deliveries increased 12.9%. China is now the Volkswagen Group’s single biggest market.
So there you have it. Half a BRIC.
Those economists are about on par with weather forecasters.
The common wisdom seems to be that midsize cars have pretty much had it in the U.S. new car market.
If heritage means anything in this industry, then it is surprising that Buick doesn’t make more of its history because the story of the early years of the company is nothing short of astonishing.
The way people are going to get transportation is changing the world over. Get ready for it.