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
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.
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