Europe: ACEA forecasts 2.1 percent climb for car sales in 2015 image

The European Automobile Manufacturers Association (ACEA) presented its early on full-year new car registration forecast, with the expected growth of 2.1 percent being slower than the overall pace seen last year.

IHS Automotive conducted a full research report on behalf of ACEA and its findings indicate deliveries should expect growing demand in Italy and Spain, followed by Germany, Britain and then other southern European nations, as pent-up demand slowly begins to bring more customers into showrooms. “We welcome the year with cautious optimism,” said ACEA President Carlos Ghosn, the CEO of Renault Nissan. Sales in Europe, which ACEA defines as an area consisting mostly of the European Union countries and Norway and Switzerland, last year climbed 5.7 percent – the first full year of growth since the financial crisis’ induced six-year slump. December increases counted as the 16th consecutive month of positive sales. But the six-year slump led to a two-decade low total of just 12.55 million units – with deliveries far below their 2007 record of around 16 million vehicles.

Just like in the United States (save for the full-size pickup trucks), Ghosn believes the most promising European sector is the one that tallies light sport utility vehicles (SUVs)- also referred to as “crossovers”. The trend has been there, but it is supported by the lower oil prices,” he commented. On the other hand, IHS believes the lower oil prices might have a limited global impact, adding just one percent to the worldwide sales this year. And in Europe, where the pump price also takes into account numerous taxes and duties, the impact could be even lower.

Via Reuters