The Demise Of The Car | Peak Oil News and Message Boards: "According to the Brussels-based European Automobile Manufacturers’ Association (EAMA), new car registration declined by nearly 7% in the first half of the year. All told, projected total sales of 12.4 million cars in 2012 would represent a nearly 20% slide in volume over 2007, when the current string of annual shrinkage began. Forecasts that once saw activity improving by 2013 now push returning health in the sector beyond the recessionary horizon now stretching far off into the European distance….That dismal outlook on the demand side is compounded by concerns over excess supply. Industry analysts say auto manufacturers in Europe maintain around 30% more production capacity than the market will bear."
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