West European sales in 2014 rise for first time since 2007; future growth expected
Economic instability in southern Europe and problems in Russia fuel concerns
2014/12/24
- Summary
- West European automotive market starts to recover slightly; still weaker than U.S.
- Germany sees slight recovery in automotive market
- UK car market enjoys full recovery to pre-crisis level with robust sales in 2014
- French economy and automotive market stagnate
- Italian car sales continue to significantly stagnate
- Spanish government's "scrappage incentive program" supporting recovery
- European market (EU + EFTA) share by OEM: VW's overwhelming lead
- Sales Forecast by LMC Automotive: West European market to expand to 15.2 million in 2017
Summary
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The West European automotive market bottomed out in 2013, and actual unit sales in 2014 are forecast to increase year-on-year (y/y) for the first time in seven years. LMC Automotive predicts that the 2014 light-vehicle market will grow 4.9%, to 13.5 million units; and further grow 4.5% y/y in 2015, to 14.1 million units. Despite this optimistic forecast, economic uncertainties in southern Europe and economic sanctions against Russia have put a damper on this rosy forecast. Some executives in OEMs state that these difficult circumstances are likely to negatively impact that predicted recovery in the West European automotive market in 2015. LMC Automotive predicts that over the mid-to-long term timeframe, the West European light-vehicle market will slightly grow, with sales increasing to 15.2 million units by 2017.
Related Reports:
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Toyota in U.S. and Europe: Reinforcing Lexus and high-performance lines (Oct. 2014)
VW expects to sell 10 million units in 2014, compete for global sales lead (Sep. 2014)
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