European automobile association revises forecast for 2015 car sales to 5%
Brussels, 9 July 2015 – Last year was a turning point for the automobile industry in Europe. With a total of 12.6 million passenger cars registered, it marked the first positive annual result since the financial crisis began in 2007. This growth has been maintained throughout the first half of 2015.
ACEA has now revised its forecast for car registrations for the full year to 5%, considering that over the first five months of 2015 the year-on-year growth was 6.8% [1].
In terms of units, this would mean surpassing the 13 million cars mark this year. This is still well below the 2007 peak of almost 16 million cars.
“Despite this positive forecast, we cannot afford to become complacent,” stated ACEA Secretary General, Erik Jonnaert. “Europe still faces challenging times. Today EU car sales are behind those of China and of the United States, where sales levels have now recovered to pre-crisis levels.” [2]
Jonnaert: “This is why it is now more important than ever to ensure that the competitiveness of our industry – one of Europe’s most vital strategic sectors – remains high on the European and national policy agendas.”
“ACEA’s call to European policy makers is to create an environment which fosters innovation and international trade – the two main drivers for our industry’s competitiveness on a global scale.”
[1] Passenger car registration figures for the first 5 months of 2015 are available here. Passenger car registration figures for the first 6 months of 2015 will be published on 16 July.
[2] China accounted for a 25.5% market share of world new passenger car registrations in 2014; the US for 19.5% and the EU for 17.7% (ACEA Pocket Guide 2015-2016; p30).
Notes for editors
ACEA’s Market and Economic Outlook for Quarter 1 2015 is available here. ACEA’s Market and Economic Outlook for Quarter 2 2015 will be available in September.
About ACEA
- The European Automobile Manufacturers’ Association (ACEA) represents the 14 major Europe-based car, van, truck and bus makers: BMW Group, DAF Trucks, Daimler Truck, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Iveco Group, Jaguar Land Rover, Mercedes-Benz, Renault Group, Toyota Motor Europe, Volkswagen Group, and Volvo Group.
- Visit www.acea.auto for more information about ACEA, and follow us on www.twitter.com/ACEA_auto or www.linkedin.com/company/ACEA/.
- Contact: Cara McLaughlin, Communications Director, cm@acea.auto, +32 485 88 66 47.
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About the EU automobile industry
- 13.0 million Europeans work in the automotive sector
- 11.5% of all manufacturing jobs in the EU
- €374.6 billion in tax revenue for European governments
- €79.5 billion trade surplus for the European Union
- Almost 8% of EU GDP generated by the auto industry
- €58.8 billion in R&D spending annually, 32% of EU total
