European OEMs' business performance report: Sales growth continues
Companies respond to market risks in Russia and South America
This report covers Europe's six major OEMs, outlining their 2014 business results and 2015 targets and strategies
The combined 2014 sales of the six, major European OEMs (VW, BMW, Daimler, PSA, Renault, and FCA) totaled 25.06 million units. This was a 5.1% year-over-year (y/y) increase. All six of the OEMs reported increased sales in 2014, with the three German OEMs setting new worldwide sales records. In addition to a recovery in the European market, strong sales in China where these OEMs have a strong brand presence also contributed to the overall increase in sales. On the other hand, sales in Russia and South America decreased. While BMW was still the leader in the premium market, both Audi and Mercedes Benz are closing the gap.
2015 objectives by OEM:
|VW Group||Forecasting a slight increase in 2015 in terms of unit sales and a maximum 4% increase in terms of monetary sales, in spite of the market risks in South America and Eastern Europe.|
|BMW||Aiming for higher unit sales and EBIT in 2015 because of new model launches|
|Daimler||Aiming for significantly higher unit sales and monetary sales in 2015, especially in the passenger-car and truck markets. The company expects the Chinese and the North American markets will contribute significantly to its business results.|
|PSA||Aiming to achieve an accumulated free cash flow of approximately EUR 2 billion between 2015 and 2017.|
|Renault||Aiming to achieve increased unit sales and monetary sales and improve automotive business operating profit and free cash flow.|
|FCA||Aiming to significantly increase sales in North America in 2015, in the range of 4.8-5.0 million units; achieve sales of EUR 108 billion (12% y/y increase), EBIT between EUR 4.1-4.5 billion (30% y/y increase); and net profit of between EUR 1.0-1.2 billion (y/y double growth), excluding extraordinary expenses.|
Business results of the Six European OEMs
|(in millions of EUR / in thousands of unit for global sales volume)|
|VW||Global sales volume||6,257||6,336||7,203||8,265||9,276||9,731||10,137|
|BMW||Global sales volume||1,436||1,286||1,461||1,669||1,845||1,964||2,118|
|Daimler||Global sales volume||2,073||1,551||1,895||2,111||2,198||2,354||2,546|
|PSA||Global sales volume||3,260||3,188||3,602||3,549||2,965||2,818||2,938|
|Renault||Global sales volume||2,382||2,309||2,627||2,723||2,549||2,628||2,712|
|FCA||Global sales volume||2,153||2,152||2,082||3,979||4,223||4,352||4,608|
|Total||Global sales volume||17,561||16,822||18,871||22,296||23,056||23,846||25,060|
Sources: The OEMs' press releases and financial statements.
(Note): Numbers in brackets "( )" represent negative value.