According to the Economic and Steel Market Outlook 2017-2018/Q3 2017 Report from the Economic Committee of the European Steel Association (EUROFER), EU automotive output, including parts and components, increased by 6.5 percent year on year in the first quarter of this year. Automotive output in Italy, Spain, Sweden and Poland grew rather vigorously. First data and estimates for the second quarter of this year signal a slowdown in output growth to approximately one percent compared to the same period of the previous year.
According to EUROFER, EU car exports are reported to have risen by eight percent year on year in the first quarter following a rather disappointing 2016. Value-wise, the US remained the largest market of destination for EU exports, followed by China and Japan.
EUROFER stated that total EU automotive output, including parts and components, is forecast to rise by 3.8 percent in 2017 and by two percent in 2018, both year on year.