ACEA Economic Report highlights Q1 automotive production & demand trends
The ACEA publishes its Economic Report three times a year, giving additional insight in market trends and automotive production.
Looking at passenger car production, the report shows how this showed a resurgence in the first three months of the year, up by 34% compared to the first quarter of 2009. However, production was still 13% down when compared to the first quarter of 2008. The same picture emerged in the segment of vans. Despite a 51% increase three months into the year 2010, production of vans remained 35% below the pre-crisis level of 2008. Truck production decreased by 5% until April this year, and by 63% compared to the first quarter of 2008. The segment of buses declined by 22% three months into the year compared to the same period in 2009.
In units produced, Germany remained the largest auto manufacturing country in the EU (1.4 million units, +33%), while the UK saw its car production pick up most (+72.7%) compared to the first quarter of the previous year. Except for Finland (-59.5%), Belgium (-10.5%), the Netherlands (-7.5%) and Italy (-0.1%), all countries posted growth.
Demand for new passenger cars in the EU also showed growth in the first three months of 2010 until a 7.4% decline was noted in April. In May, new registrations further decreased by 9.3%. The ACEA says that the recent drops reflect both the end to government support schemes as well as the continuing challenging economic situation in the EU.
From January to May, small cars (segments A and B) accounted for 44.6% of the total market for new cars compared to 45.3% in the same period of 2009. Half of all new cars registered had a diesel engine, compared to 46.3% over January – May last year.
Demand for commercial vehicles cautiously points towards recovery, although the segment of vans was the only one to record positive figures since February.
These and other figures can be found in the latest ACEA Economic Report. The full report with tables and graphs can be found on the ACEA website at www.acea.beFor more of the latest industry news, click here.