Sunday, November 13, 2005

Go long French autos

Go long French automakers. In the eighteen days of rioting in France, more than 7,000 automobiles have been destroyed.
Since the wave of violence started, the daily damage report posted by the French police has been a car owner's nightmare: 502 burned on Friday night, 463 the previous night, 482 the night before that, and so on.

No other country in Europe immolates cars with the gusto and single-minded efficiency of France. Even during tranquil periods, an average of 80 vehicles per day are set alight somewhere in the country.
These cars will have to be replaced and, most likely, will be replaced with new Renualts, Citroens and Peugeots. Looks like a good year for French autos.

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