- The European car market (29 countries) has lost 23% of its volume from 2007 to 2013, and this decline was extended for another six years after that. In 2014, for the first time since 2007, the European market finally seems to be picking up (+6% over the first 8 months of 2014).

- In 2015, the euro zone should experience a gradual growth in its economy (+1.5% according to the European Commission and the IMF), which will induce  an increase in consumer spending and a recovery in business investments.

- In this context and considering the automotive supply expected in this period Inovev tables on a reboot and a moderate growth in the European market between 2014 and 2015, of around 3%.

- Expected levels are still far far from those of 2005 to 2008 (17 to 18 million vehicles per year) but 15 million new vehicles sold in 2015 is a likely scenario (it is expected to reach 14.5 million units in 2014) .

- In the longer term, beyond economic factors, social factors must also be taken into account and may deeply impact the market : lower purchase rate among 1st time buyers , slower vehicle renewal rates and stricter vehicle restrictions in major cities, followed by the increase of car sharing and carpooling, development of public and alternative transport, declining demographics in some countries, etc …

Contact us: info@inovev.com