European growth slowing
Passenger car registrations in the European Union rose at the rate of 4.7% year on year in the first six months of the year to 8.21 million units, according to the latest set of data to be released by the European Automobile Manufacturers Association (ACEA). In light of these figures, Tim Urquhart, principal automotive analyst for IHS Markit, now believes that for the whole of 2017, the passenger car market in the EU will grow by 1.5% to almost 14.7 million units, an increase some way behind the 7.0% improvement of 2016 over 2015.
He goes on to explain that the first-half performance in the EU passenger car market is one of solid growth, although we appear to be moving into a period of relative uncertainty and it would be a surprise if the growth during the first half of the year is maintained throughout the second half of the year. | 14/07/2017 | Tim Harrup