Consequences of the ECB decision on the automotive production and automotive market in the Euro zone (2/3-exports)
- After registrations in the Euro zone, the second expected effect, namely the decline of the Euro currency, could influence the production of vehicles (PC + LCV) of the countries present in the Eurozone (for exports) and consequently those of countries outside the Eurozone (for imports). Due to globalisation, groups and their production plants in the Euro zone, in the EU and outside the EU, have their interests on both sides of the border.
- It is difficult at this time to forecast the influence of the Euro currency decline on the levels of vehicles production, export and import of countries and carmakers. Especially, we should take into account the reaction of each country outside the euro zone (in the EU and in the world). However, it is interesting to draw the 2014 inventory of automobile production of countries and carmakers present in and outside of the Eurozone.
- Which countries and carmakers export outside the Euro zone? In the first place Germany (leading exporter in the EU), Spain (for vehicles to the EU) and France. Among generalist carmakers, VW, Ford, Peugeot, Opel, Renault and Citroen are the biggest exporters but the volume of exports (except VW) is less than that of Premium carmakers such as Mercedes, BMW and Audi. If generalist brands could see sale prices of their models reduce in foreign markets, the effect induced by a weaker euro will be less visible for Premiums brands (Mercedes, BMW and Audi), as the price factor is less dominant on the sales level of such products.
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