After six consecutive years of falling auto sales, the European automotive industry group ACEA predicts a 2 percent increase for 2014 as demand slowly works its way out of the wilderness, according to a report by Automotive News.
At a press conference in ACEA’s headquarters in Brussels, president Philippe Varin said that though sales won’t return to pre-Great Recession levels any time soon, he believes 2014 will “herald a transition toward a recovery” based upon December 2013 delivery gains signalling a U-turn toward the light.
Overall European sales in 2013 fell 1.8 percent to 12.3 million units, the lowest figure noted since 1995. Within the European Union, 11.8 million units were delivered in the same period; Varin, who is also CEO of PSA/Peugeot-Citroen, predicts the EU figure will climb “just above” 12 million in 2014.
Though automakers, such as Ford and Renault, are also predicting a gradual revival in sales — hinging on the economic activity of France, Spain and Italy in the coming year — the Blue Oval, PSA and General Motors are shuttering factories and scaling back their workforces in Europe in response to the market decline.
To remedy the issue, Varin believes authorities in the European market should do all they can to help bolster the coming recovery, including increased flexibility in labor and the use of EU social funds to help automakers reorganize.
So no it doesn’t begin a climb, some -group- said they -predict- things will improve.
I predict I’ll hike a mountain in 2015.
“Man Climbed Mount Everest Solo”
ACEA is the manufacturers’ association. I would think that their predictions are to be taken a bit more seriously than some random investment bank’s analyst.
Or not. Who knows? :)
Sure, but it’s still a prediction. The title states it like it’s a fact, when it hasn’t happened yet.
Reinhold Messner already soloed Everest without oxygen in 1980.
Sorry bro.
No wonder Euro car sales have been in a slump. Just look at that picture. The cars are too tall to go through the gate!
The prediction problem is that EU17 average household debt to income ratio is 99 percent. Not likely they will binge on new cars.
Germany, bench mark, is 86 percent. Germany has a self inflicted economic issue with shutdown of nuclear power plants. Replaced by super expensive wind farms in the North Sea.
“Germany has a self inflicted economic issue with shutdown of nuclear power plants. Replaced by super expensive wind farms in the North Sea.”
Actually they tried that already and got blackouts. They’ve since switched gears and are now burning cheap American coal to generate electricity, while re-opening long-closed coal mines. Isn’t it amazing that support for the Greens disappears when the power goes out?
Scania just had an order for 1500 trucks probably the biggest ever in the UK, from a Trucking Company. So things are starting to pickup.
It’s about time!
Yoicks! Talk about demographic collapse. Well, machinery does eventually wear out and have to be replaced.
I recently read an excellent book entitled “In the Confident Hope of a Miracle”.