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Auto Industry Revises 2019 Car Sales Forecast To -1% - ACEA

Auto News - Published on Wed, 03 Jul 2019

Image Source: acea.be
In the side-lines of its annual general meeting in Brussels, the European Automobile Manufacturers’ Association revised its forecast for 2019 passenger car registrations downwards to -1%. ACEA’s initial forecast, published earlier this year, was for growth of up to 1% compared to 2018. The association now expects a slightly negative result for the full year 2019, with total EU car sales projected to be just above 15 million units at the end of this year.

ACEA Secretary General, Erik Jonnaert said that “Aside from the uncertainty due to Brexit and changing macroeconomic conditions, this represents a natural stabilisation of the market. Indeed, the pace of growth has been slowing down in recent years.” This is also in line with the European Commission’s downward revision for projected EU GDP growth, as car sales strongly mirror economic growth.

ACEA also released the new edition of its Automobile Industry Pocket Guide, containing the latest data on employment, production, registration, innovation, road safety and trade flows.

As the Guide shows, the automotive sector now provides jobs to 13.8 million Europeans, representing 6.1% of total EU employment. Moreover, 11.4% of all EU manufacturing jobs – some 3.5 million – are in the auto industry. The top five countries for direct manufacturing jobs are Germany (870,000 jobs), France (223,000), Poland (203,000), the UK (186,000) and Romania (185,000).

A new interactive map of automotive factories published today shows that the 19.2 million motor vehicles made in the European Union last year were built at 229 automobile assembly and production plants spread over 19 EU countries.

Mr Jonnaert said that “This map visualises the highly integrated and complex auto manufacturing network spanning right across the European continent.” While finished vehicles might be assembled in one country, parts and components are sourced from many different EU member states.

Source :

Posted By : Mohan Sharma on Wed, 03 Jul 2019
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