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Posts Tagged ‘europe auto sales’

Global Auto Sales Expected to Near 90 Mil in 2015

“Slower, not lower,” IHS Automotive forecasts.

by on Feb.03, 2015

Ford has become one of the fastest-growing brands in China. But the market overall is slowing.

With the U.S. market continuing its rebound and Europe finally showing signs of recovery after a long economic slump, global auto sales are expected to reach a new record of nearly 89 million vehicles this year.

But with the Russian market slumping and China showing signs of a slowdown, IHS Automotive cautions, the pace of growth will be a “slower, not lower” 2.4% in 2015. All told, only two of the critical BRIC markets are expected to report sales gains.

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Already the world’s largest automotive market, China will continue to lead the way in 2015, IHS anticipates. But don’t expect the high double-digit growth that market had been experiencing earlier in the new millennium. The forecast is for something closer to 7%, which would still drive the Chinese market to sales of 25.2 million vehicles.

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European Car Market Still a Mess, Warns Marchionne

Fiat Chrysler CEO also raises concerns about Toledo Jeep plant.

by on Oct.07, 2014

New emissions standards, in general, are “one of the toughest issues we face,” said Sergio Marchionne, during the Paris Motor Show.

The large crowds pouring in for this year’s Paris Motor Show have given hope to industry planners waiting to see if the long European automotive recession has finally come to an end. But despite recent signs of a sales upturn, not everyone is convinced the world’s third-largest car market is finally in recovery mode.

“I’ve never been a firm believer in the recovery of Europe,” said Fiat Chrysler Automobile CEO Sergio Marchionne, during a meeting with reporters. “There are still some problems that plague us in getting this machine going again.”

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Like a number of other industry leaders, Marchionne’s confidence appears to have been further shaken by last week’s announcement that Ford would not see the turnaround it had expected in Europe this year. That revelation triggered a sharp run on the maker’s stock, which fell nearly 20% in a matter of days. (more…)

Global Auto Industry on the Rebound

Smooth sailing ahead, analysts forecast.

by on Sep.23, 2013

Strong attendance at the Frankfurt Motor Show could signal an imminent upturn in the European market.

It’s been a tough few years for the auto industry, with the U.S. suffering its worst downturn in decades, Europe in a massive slump and even the booming Chinese market showing signs of a slowdown. But there should be smooth sailing ahead, industry analysts are predicting, as even hard-hit Europe shows signs of a rebound.

The U.S. is already having one of its biggest booms in years, and China’s car market is heating up again, Patrick Archambault, Goldman Sachs vice president of global research, said during a speech at the Society of Automotive Analysts, or SAA, conference in Detroit. The growth rates in worlds three big three markets will be in the “single digits” which is relatively encouraging, he said

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“There is nothing sinister lurking,” asserted Archambault. “The growth is still supported by the pent-up demand created during the down turn. The average age of vehicles has increased, creating what some people have referred to as a rolling scrapyard.”

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Turnaround of Slumping Europeans Auto Market Could Take Years, Warns Ghosn

Renault/Nissan CEO remains strong battery car proponent.

by on Mar.05, 2013

Don't expect much improvement in the European car market until at least 2016, warned Ghosn.

The slump in the European market continues to worsen, exceeding even the most gloomy forecasts, cautioned Carlos Ghosn, the CEO of the Renault/Nissan Alliance, and it is likely to take at least three years before things start to rebound, he said during a media roundtable at the Geneva Motor Show.

In a wide-ranging conversation, the Brazilian-born executive said that despite slow sales he remains a strong proponent of battery power. He also said that global corporations should take a hint from the ballot initiative approved by Swiss voters last weekend and put executive salaries up for shareholders to decide.

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European car sales plunged to the lowest level in nearly two decades last year and Ghosn, like many other observers, had been forecasting demand would slip another 3% to 5% as the Continent continued to struggle with a massive debt crisis that nearly shattered the European Union. But based on the results of the first two months of the year, the car market could post as much as an 8% drop for 2013, with little sign that the situation is ready to bottom out, warned the executive.

“The only question is whether it will be bad or very bad” in 2013, said Ghosn, adding that, “I don’t think anybody is forecasting a pick-up of the European market for the next three years.”

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European Car Sales Fall to Lowest Level Since 1995

New Year likely to see further decline, analysts warn.

by on Jan.21, 2013

The European auto industry is facing "a storm the potential size of a tornado," warns Fiat/Chrysler CEO Sergio Marchionne.

New car registrations in the European Union fell by 8.2% in 2012, dropping to their lowest level since 1995, according to figures from the European Automobile Manufacturers Association.

And with the European Union still struggling to resolve its debt crisis and pull out of recession, industry analysts fear the situation may likely get worse this year – a situation that could prove disastrous for some of the Continent’s weaker manufacturers who have already racked up billions of dollars in losses.

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The European auto industry is facing “a storm the potential size of a tornado,” Fiat/Chrysler CEO Sergio Marchionne is warning. “This can’t go on forever” without doing serious damage to the industry.

Carmakers across the 27 EU countries registered 12.05 million new vehicles last year. Of the major markets, the United Kingdom was the only one to grow as sales climbed from 2011.

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European Automakers Compound Their Own Crisis

“Unsustainable” practices conceal depth of crisis, worsen losses.

by on Oct.02, 2012

VW's Winterkorn and Fiat's Marchionne emerge from a meeting aimed at resolving their mounting differences.

Few doubt the European automotive industry’s downward spiral will get worse before things start to improve. But there are growing concerns that the industry is compounding its own problem with “unsustainable” practices that conceal the depth of the downturn while running up losses that have already climbed into the billions of Euros.

And there are few signs that industry leaders – or government regulators – are ready to come together on a common solution that can resolve endemic problems, such as overcapacity, only made worse by the broader European economic meltdown.

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“We are not very bullish about Europe next year,” said a glum Carlos Ghosn, CEO of the Renault-Nissan Alliance, during an appearance at the Paris Motor Show.  “We do not see a rebound in Europe for several years.”

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VW, Fiat CEOs Paper Up Angry Dispute

Winterkorn, Marchionne find some common ground over industry crisis.

by on Sep.28, 2012

Smiling faces? VW's Martin Winterkorn and Fiat's Sergio Marchionne emerge from a meeting aimed at resolving their vocal and public differences. Photo credit: Bloomberg Television.

Two of Europe’s top automotive executives have – at least for now — papered over an increasingly fractious dispute that threatened to further divide an industry facing a sharp slump in sales and increasingly serious losses.

The dispute between Volkswagen CEO Martin Winterkorn and Fiat CEO Sergio Marchionne has been brewing for months but seemed to reach a new level of frustration in the build up to the 2012 Paris Motor Show – which industry officials have hoped might help rekindle European consumers’ love affair with the automobile.

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The two executives emerged from a meeting of the European automotive trade group ACEA, Friday morning, shaking hands and promising to work together to find common ground in an industry expected to reach a 17-year low in sales this year. The move preserves Marchionne’s role as the chairman of the group – a pulpit he has used to try to get reluctant German makers to agree to steps that could help ailing rivals, especially those from France and Italy.

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Could Fiat/Chrysler CEO Marchionne Say, “Ciao” to Italy?

Exec to discuss “strategic prospects” with Prime Minister.

by on Sep.20, 2012

Fiat Chief Executive Marchionne will be meeting with Italy's prime minister to discuss his strategic options over the weekend.

Might Fiat pull up its stakes and abandon its home base? That’s a very serious possibility, some European analysts are speculating, as the maker’s CEO Sergio Marchionne prepares for a meeting to discuss “strategic prospects” with Italian Prime Minister Mario Monti.

The Canadian-educated Marchionne – who has shown increasing frustration with both the broad European financial crisis and, in particular, the cost of doing business in Italy – has been hinting at such a radical move for several years.  Analysts say he is in a particularly good position to hold out that threat because of Fiat’s increasingly strong ties to Detroit-based Chrysler Group, where Marchionne also serves as CEO.

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In an interview with one of Rome’s leading papers, the executive downplayed such a radical move but observers continue to wonder what other “strategic prospects” could come up at the planned meeting with Prime Minister Monti on Saturday.

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