EUROFER: EU automotive output will increase both in 2015 and 2016
According to the Economic and Steel Market Outlook 2015-2016/Q3 2015 Report from the Economic Committee of the European Steel Association (EUROFER), the latest available registration data for the EU automotive market signal that vehicle demand kept its strength in the second quarter of 2015. Passenger car sales continued to grow robustly in April and May; total sales over the first five months increased by 6.8 percent year on year. All large and most of the smaller markets posted healthy gains.
EUROFER stated that in the second quarter this year total automotive production in the EU is estimated to have risen by almost six percent year on year. Prospects for the second half of the current year and 2016 remain positive. EU passenger car output will be bolstered by strengthening domestic markets, while the outlook for car exports remains clouded by uncertainties. Demand in emerging markets is slowing or shifting into reverse.
For 2015, EUROFER foresees that the total automotive output in the EU will increase almost by 5.5 percent, while total automotive output is expected to rise by around 2.5 percent in 2016, year on year.