European market Forecast in 2016 (PC+LUV)
- In 2015 the European car market 29 countries (PC + LUV) should experience a growth close to 8% compared to the previous year. The reboot of the European market will therefore happen much faster than expected.
- According to economic forecasts of the European Union, Europe (29 countries) should experience a GDP growth of 2% in 2016, reflecting a combination of beneficial factors: Oil prices which remain relatively low, a steady global growth, the euro which has continued to depreciate, and supportive economic policies in the EU.
- In 2016 Inovev expects an increase of 3% of European market. The European market should be greatly supported by Southern European markets (Spain and Italy), currently going through a catching up phase, and will also be supported by Eastern countries as they have a motorisation rate which is still quite low. The share of mature markets (Germany, Great Britain and France) in terms of European growth should be lower.
- Nevertheless, one should keep an eye on some countries in 2016. This is the case of Spain, whose PIVE plan, which led to a sharp increase in sales in 2014 and 2015 (+ 20% per year), will probably be stopped. This is also the case of Great Britain; the strong growth of recent years (+ 10% per year) will likely be weaker, as it is already the case in 2015.
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