ACEA predicts European car market to grow by only 2.1% in 2015
According to Reuters, ACEA recently predicted that the European auto market will continue to grow in 2015, but the increase may be only 2.1%, less than half of the increase in 2014.
According to data provided by IHS Consulting for ACEA, the countries with the fastest growth in new car registrations this year will be Italy and Spain, followed by Germany, the United Kingdom, and other countries in southeastern Europe.
In December last year, the European region (including EU countries and Norway and Switzerland) achieved 16 consecutive months of growth. For the whole of last year, the number of passenger car registrations in Europe increased by 5.7%, which is the first time the region has achieved growth since the economic crisis. However, last year, 12.55 million new car sales were still below the 2007 peak of 16 million.
ACEA Chairman Carlos Ghosn said that ACEA is "cautiously optimistic" about Europe's growth this year. The most stable growth this year will be in the SUV and crossover segment. "The trend is clear, and of course (this trend) is also driven by low oil prices.
In addition, IHS also predicts that global light vehicle sales (including vans) will increase by 2.4% this year, and China's new vehicle sales growth will slow down. Sales in the Middle East, Japan, Brazil, Argentina, and Russia will experience declines, and Russia's decline may reach 27%.