- The announcement by the European Central Bank (ECB) to inject 60 billion euros per month until 2016 in the European economy for the redemption of government debt, is intended for all economic players. Through this mechanism, two notable effects are expected among other things: an increase in loans to businesses and households by banks and a decline of the Euro as a result of the creation of money.

- What are the possible effects of these decisions on the car market and car carmakers present in and outside the euro area? In theory, PC + LCV registrations in the euro area, which account for over 60% of the registration of the European Union, are expected to grow through access to credit by households (for PC) and fleet (for PC + LCV).

- However, it is necessary to qualify this, firstly because the measures of the ECB will not take effect until March and therefore the impact on household and business consumption will not be seen straight away, secondly because interest rates are already low in France and Germany, and down in Italy, Spain and Portugal.

- Finally, it should not overshadow the economic environment and the structure of a mature European car market that is also affected by other factors (transport use , ecology, politics ...) The example shown by other countries (such as Japan) who used the "quantitative easing" (or QE) without a significant effect on the growth of the automobile market, urges us to be cautious in our forecasts. At best the market could experience a momentary growth in sales or simply a surge in growth at the right time, and would have similar effects as would a "scrapping bonus".

- It is why Inovev maintains its forecast of a 2% growth in sales of passenger car and light commercial vehicle in 2015 in the EU market.

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