In particular, Germany's big carmakers have benefitted from the strong demand for new cars. Volkswagen is now aiming to replace General Motors as the world's largest car manufacturer. But the competition isn't sleeping. South Korea's Hyundai-Kia Group is racing ahead, and although Toyota continues to battle with the aftereffects of the earthquake and nuclear disaster, the Japanese auto giant remains a power to reckon with.
Western Europe car vehicle market forecast for 2012
UK-based market analyst LMC Automotive has made a significant downward revision to their Western Europe car vehicle market forecast for 2012 as economic growth projections are revised down. A 5% car market decline in 2012, to 12.15m units, is now forecast. A forecast car market of 12.15m units in 2012 compares with a pre-crisis market in 2007 of 14.8m – a drop of almost a fifth.
The selling rate in France was 2.15m units last month, a result that Poskitt describes as 'fairly solid' given current developments in the region. The same can be said of the UK car market result in November, where the fleet sector provided some support.
What about the German powerhouse? Germany will be the only major European market registering any sort of gain for 2011 over 2010. Unsurprisingly, since the summer, the market’s strength has deteriorated somewhat from earlier in the year, though the full year will still be up around 10%. At 3.2m units for 2011, the market is not far from levels achieved last decade (pre-recession) though economic headwinds mean that a further improvement in 2012 is unlikely. Read More..
Chinese car maker Geely to launch in UK in 2012
Chinese car maker Geely – better known for its ownership of Volvo – will launch in the UK in late 2012. Parent company Geely International Corporation has struck a deal with Manganese Bronze Holdings to be its distributor in the UK market.
First up is the Geely Emgrand EC7, a car roughly the same size as the Skoda Octavia. It'll be powered by 1.5- and 1.8-litre petrol engines and be available with a four- or five-door bodystyle. Prices will kick off at around £10,000 – making this car significantly cheaper than an Octavia which starts at around £13k. Read More..
PwC warns 2012 car sales to drop below 1.9m
The new car market will fall below 1.9 million units next year as buyers worried about the recession stay out of the market, according to automotive analysts at PwC. The assessment follows a day after Deloitte’s more pessimistic prediction that new car sales could fall to between 1.8 and 1.84 million in 2012. PwC noted the UK market was currently performing strongly against other European markets. Read More..
Auto industry to face limited growth in 2012
The outlook for automotive sales was limited for the next year moving forward as the current industry scenario is lacklustre on the back of weak sales and foreign exchange pressures. RHB Research Institute Sdn Bhd (RHB Research) analyst Alexander Chia revealed, “The September quarter was dismal for earnings. Four of the six auto stocks under our coverage reported earnings that were below expectations. Read More..
Toyota exec sees 2012 US auto sales up 1 mln
Consumers opting to buy new cars after holding onto their vehicles through the recession will help push 2012 U.S. auto sales up 1 million vehicles, or about 8 percent, a Toyota Motor Corp executive said on Thursday.
Jim Lentz, president of Toyota Motor Sales and the second-highest ranking U.S. official for the Japanese automaker, said 2012 sales would be around 13.6 million, up from about 12.6 million to 12.7 million this year.Read More..
Taiwan car sales will remain steady in 2012: industry leader
Car sales in Taiwan in 2012 will remain at around the same volume as this year, despite the threat of an economic slowdown, the chairman of a leading domestic auto company forecast Wednesday. The auto sales figure for 2011 is expected to be about 370,000 and is not likely to change much in 2012, an election year in Taiwan, Yulon Motor Chairman Kenneth Yen predicted at the company's launch of a new car model. Typically, economic activity slows down in Taiwan during elections, but elections are not the only factor that determines the country's economic performance, he said. Read More..
Brazil Auto Industry Sees 5% Sales Growth in 2012
After reducing estimates for sales this year as 2011 sales grew less than the estimated 5%, automaker association Anfavea said Wednesday that sales next year could climb as much as 5% as government stimulus measures protect the country from the global economic slump.
Brazil auto sales may climb to between 3.77 million and 3.81 million units next year after ending 2011 with sales of 3.63 million, Anfavea President Cledorvino Belini told reporters in Sao Paulo. The association had previously estimated sales of 3.69 million, but end-of- year sales failed to meet the group's more optimistic forecast. Read More..
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