According to the Economic and Steel Market Outlook 2012-2013/Q2 2012 Report from the Economic Committee of the European Steel Association (EUROFER), in the first quarter of 2012 European Union (EU) passenger car sales were down 7.7 percent year on year.
According to the report, sales declined particularly in Italy and France due to weak consumer confidence. Meanwhile, commercial vehicle sales decreased by 7.9 percent in January-February compared to the corresponding period of the previous year.
EUROFER stated that automotive output grew as expected by almost 2.5 percent year on year in the fourth quarter of 2011 and by 10.7 percent in 2011. Output growth is expected to stand at around 2.5 percent in the first quarter of the current year, despite the contracting European automotive market.
The outlook for the remainder of 2012 remains stable in the second quarter, followed by a slight reduction in output in the second half, resulting in total 2012 production rising by just 0.5 percent compared with the 2011 level.
According to EUROFER, EU automotive output is forecast to rise by over one percent in 2013, with production in central Europe expected to grow rather strongly.