To follow up on my small comment on automobiles from a few days ago:
A friend of mine who works for a major importer verified my claim that importers had eaten the cream and pudding of the tax cuts, with the <1,600cc seeing the most sales. He noted that sales of the mini Benz 1.6C were 1,500 in June alone. He also corrected me on the price: EUR33,000.
For the domestic producers, he confirmed the destocking, which we can not directly observe this in data. Interestingly, the latest data also hint that foreign demand might be picking up again, albeit very slowly.
A friend of mine who works for a major importer verified my claim that importers had eaten the cream and pudding of the tax cuts, with the <1,600cc seeing the most sales. He noted that sales of the mini Benz 1.6C were 1,500 in June alone. He also corrected me on the price: EUR33,000.
For the domestic producers, he confirmed the destocking, which we can not directly observe this in data. Interestingly, the latest data also hint that foreign demand might be picking up again, albeit very slowly.
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