The European market may have to wait 5 to 6 years before a complete recovery
 

The European passenger car market (27 countries) is down by 6.5% in the first half of 2013 compared to the first half of 2012, the month of June 2013 is in line with the previous month with a decrease of 6.3%. Some countries suffer more than others, mainly the Netherlands (-36,3%) due to the end of the tax exemption on the purchase of new cars since the 1st January, but also Ireland (-19 6%), Finland (-15.5%), Switzerland (-11.8%), France (-11.3%), Italy (-10.2%), Sweden (- 9.6%) and Germany (-8.1%).


Britain (+10.0%) is the only country to experience a double-digit growth, thanks to significant price reductions practiced among manufacturers. Good news for, Greece, Spain and Portugal that seem to see the end of the collapse of their markets, these countries have actually reversed the trend for several weeks now with a gradual return of confidence among buyers.


Overall, it will probably be 2019 before the European market recovers fully, even if the decline in sales should stop at the second half of 2013. Inovev provides that the European market has reached its lowest point in 2013 and sales are expected to rise again in 2014. But it is uncertain that the market will reach the record 2007 levels before the end of the decade.

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