• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 2 mins COVID 19 May Be Less Deadly Than Flu Study Finds
  • 8 mins Would bashing China solve all the problems of the United States
  • 47 mins Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
  • 13 mins Yale University Epidemiologist Publishes Paper on Major Benefits of Hydroxchloroquine for High-risk Outpatients. Quacksalvers like Fauci should put lives ahead of Politics
  • 5 hours China to Impose Dictatorship on Hong Kong
  • 4 mins Let’s Try This....
  • 16 mins HVDC Cheaper Than Low-carbon Natural Gas
  • 5 hours 60 mph electric mopeds
  • 5 hours Nothing can shake AMLO’s fossil-fuel fixation
  • 18 mins Oil and Gas After COVID-19
  • 6 hours Iran's first oil tanker has arrived near Venezuela
  • 6 hours Natural gas is crushing wind and solar power
  • 6 hours New Aussie "big batteries"
  • 10 hours Pompeo's Hong Kong
Putin To Bail Out Russian Oil Industry

Putin To Bail Out Russian Oil Industry

Russia’s President Vladimir Putin has…

Oil And Gas Rig Count Falls For Ninth Straight Week

Oil And Gas Rig Count Falls For Ninth Straight Week

Baker Hughes reported on Friday…

Italian Car Sales Plunged 98% In April

You can't get much more of a "worse case scenario" in auto sales than watching numbers plunge an astounding 98%. But that's exactly what has happened with new car sales in Italy, which remains mostly on lockdown, for the first 24 days of April for this year. 

Across all sales channels in Italy, there were only 2,182 registrations, down from 107,930 the year prior, according to Automotive News Europe

The numbers out of Italy likely provide foreshadowing for what the rest of Europe's numbers will look like for the month of April. In Italy, showrooms closed during the beginning of March and those who had automobiles on order already were unable to take delivery of their new vehicles. March sales had already fallen 85%.

Dealers in Italy are going to be able to start re-opening May 4, after being shut down alongside of dealers in the UK, France and Spain. Germany has already allowed some of its showrooms to re-open. 

The body that represents foreign automakers in Italy, UNRAE, reported that it expected car registrations to fall by up to 98% for the month. The Italy foreign carmakers’ association is pleading with the government to approve measures to boost car demand as soon as activities reopen, according to Bloomberg. 

Estimates are for Italy to finish the month with total sales of between 2,500 and 2,600 units, compared to 175,654 in 2019. The total would have been even lower had Renault not registered 317 EVs in one day for a rental car company. 

Recall, we reported that U.S. auto sales plunged to their worst numbers in a decade for March, with April numbers expected in just days. “The whole world is turned upside down right now," one U.S. auto market researcher said in late March. 

"There are basically no U.S. auto sales right now," analyst Adam Jonas had commented.

By Zerohedge.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News