EUROFER forecasts EU auto output to rise by 1.1 percent in 2019

Thursday, 08 February 2018 16:23:42 (GMT+3)   |   Istanbul
       

According to the Economic and Steel Market Outlook 2018-2019/Q1 2018 Report from the Economic Committee of the European Steel Association (EUROFER), EU automotive output increased by 2.8 percent year on year in the third quarter of 2017.

Production growth is estimated to have accelerated in the fourth quarter of last year, to 6.2 percent year on year, reflecting a strong expansion in France, the Netherlands and most Central European production hubs. As a consequence, growth of total EU production activity, including automotive parts and components, in 2017 is revised upwards to 3.7 percent.

EUROFER stated that saturation effects will lead to slowing growth of domestic sales in the EU, in particular in Germany and France. EU commercial vehicle demand growth is also expected to soften further due to saturation effects. Lower demand from key overseas markets will limit exports of vehicles and components.

Total EU automotive output is forecast to rise by 1.7 percent in 2018 and by 1.1 percent in 2019.


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