Industry Forecast
from 9.9 to 9.5 million units, or roughly 25.6% of all cars sold worldwide. The main reasons for this decline are sluggish demand in Western Europe and the ongoing contraction of the Turkish market where car sales have almost halved compared to the first six months of 2018.
Passenger car production on the
European continent contracted by 6.2% during the first six months of 2019, the result of falling demand in the European Union and Western Europe in particular. Outside of the EU, production in Turkey (-13.2%) and Ukraine (-19.4%) continued to deteriorate, although Russian output maintained positive momentum (+1.9%).
The demand for new commercial
vehicles grew throughout the first half of 2019, increasing by 5.8% when compared to the same period in 2018, resulting in 1.4 million units being sold across the European Union. European output of commercial vehicles is estimated at 3.6 million units for 2019, or 1.4% less than the prior year before. Russia is likely to make a positive contribution to production in Europe, although Turkey’s output will continue to deteriorate. Looking at the European Union, a positive trend was observed during the first half of the year, but production growth is grew moderate in the second half of 2019 due to the weaker economic conditions and the Brexit uncertainty.
world’s second largest
Europe maintains its position as the car producer,
representing 25% of global output. During the first half of 2019, 37.8 million passenger cars were produced around the world, 7.3% less than the year before. During the first half of 2019, the EU new-car market shifted further towards petrol vehicles, now representing nearly 60% of all new passenger car registrations, while demand for diesel continued to decline. Electrically-chargeable vehicles (ECV) accounted for 2.4% of total new car sales
18 ❘ January 2020 ®
Europe
across the region, while all alternatively- powered vehicles (APV) combined made up 8.9% of the EU market. The
impact of the evolution in APVs and emissions policies is yet unknown to the Investment Casting industry. Short term
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