The European (29 countries) PC + LCV market increased by 3.3% in 2017
- The European automotive market (29 countries) grew by 3.3% in 2017 with a volume of 17.67 million units (PC + LCV). This market is slowing from month to month, as growth was still at 3.6% in the first 9 months of 2017, and reached 7.4% in 2016 and up to 9.2% in 2015.
- The renewal of the overall fleet which started in 2014 seems to have reached a ceiling today, although the total number of registrations still remains 1 million units lower than in 2007, when it reached 18.67 million units.
- The other important factor behind the slowdown in the European market is the decline in the UK market, which is decreasing month over month and is one of the first direct consequences of Brexit.
- Over the12 months of 2017, the UK market fell by 5.4% while the German market rose by 2.8%, the French market by 5.1%, the Italian market by 6.9% and the Spanish market by 8.7%.
- Taking only passenger cars into account, the European market (29 countries) increased by 3.3%, which means that sales growth of light commercial vehicles was close to that of passenger cars (+4.0%).
- For 2018, Inovev expects an increase of 1.5% for a volume of 17.94 million units.
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