European Car Market in 2018 signed the fifth positive performance in a string with sales at 15.2 million, up 0.2%, despite the relevant drop in UK, due to Brexit preliminary effects. In this report all European markets figures and last sixth years trend and performance.
Downbeat data continues to ebb in surrounding the Eurozone economy, suggesting that a slower growth path remains in play after a solid 2017. A downturn in the industrial sector in the third quarter due to supply side constraints and tepid demand appears to have persisted into the fourth quarter, with industrial production contracting at the sharpest pace in over two years in November and the composite PMI falling in December.
Moreover, economic sentiment deteriorated notably throughout 2018, ending the year at an almost two-year low.
The possibility of a hard Brexit has increased somewhat after policymakers in the UK rejected Prime Minister Theresa May’s withdrawal agreement in mid-January and remain deeply divided on how to proceed with the country’s exit from the European Union.
Meanwhile, the European car passenger’s market has lost the steam and after the summer acceleration to anticipate the WLTP introduction, the Q4 was heavily negative, moving the full year at a flat performance.
In recent years the market had recovered after the fall caused by the 2008-2009 financial crisis. In the last 5 years the sales increased considerably and their sales is near to the pre-crisis level.
In the 2018, almost all markets have closed with positive figures, but UK, affected by preliminary effect of the BREXIT and Sweden, hit by the July 1st introduction of a new fiscal system, the bonus/malus which hit vehicles prices,
The total car passengers sales with the 28 EU countries plus the 3 in EFTA have been 15.6 million, up 0.2% from the previous year and 3.7 million from the 2013 figures.
The outlook for the 2019 is negative. BREXIT will hit UK Market, the new fiscal law on vehicles will hit Italian market and the demand will be generally low in the rest of the Continent. All these facts will move sales down near 5%, with peaks in double digit.
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