The European market fell 3.1% in the first half of 2019
- The European automotive market (29 countries) fell by 3.1% in the first six months of 2019, compared to the first six months of 2018, to 8.42 million passenger cars (light commercial vehicle sales will be available at the end of July). Western Europe (17 countries) fell by 3.5% and Central and Eastern Europe (12 countries) grew by 1.4%.
- The decline in the European market is part of a global decline in most world markets (China, USA, India, Russia, Turkey, Australia, Argentina, South Africa, etc.). After several years of growth, the European market (like other markets) seems to be stabilizing, but first, the next two months will be strongly negative because last year, the months of July-August, which benefited from mass sales of cars to old standards, were very high, and second, over the period 2020-2021, the economic (expected slowdown in global growth) and political (Brexit, impact of trade tensions between China and the USA) indicators point to a slower European market.
- The Geely Group (+2.0%), which owns the Volvo brand, is the only manufacturer to grow on the European market in the first half of 2019, thanks to the XC40 SUV. Other automakers‘ sales declined: Hyundai-Kia Group (-0.4%), Toyota Group (-1.0%), PSA Group (-1.2%), BMW Group (-1.2%), Daimler Group (-1.4%), Tata Group (-1.5%), VW Group (-3.7%), Renault-Nissan Group (-5.4%), Ford Group (-6.8%), FCA Group (-9.3%). Inovev expects a 2.3% decline in the European PC market over the whole of 2019.
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