Volume to return by 2014
May 14th, 2010 by Richard Aucock
CAR production will return to 2007 levels in 2014 with an EU market of 20.4 million motors predicts the SMMT.
This is a much more positive outlook than estimated a few months ago.
‘Although vehicle production volumes across Europe fell by more than 2.8 million units in 2009,’ said the SMMT’s Paul Everitt, ‘there is increasing confidence regarding 2010 and beyond.
This is ‘thanks to the acceleration of new model programmes and the strong performance by many vehicle manufacturers over the first quarter of 2010.’
The ‘European Car and LCV Production Outlook Report’, commissioned by the Society of Motor Manufacturers and Traders, confirms the reason is better than expected performances from certain brands and models.
Car makers have rolled out some real hit cars and these really seem to have captured buyers’ attentions.
It is expected that European volumes in 2010 will reach 17.2 million units compared to 16.1 million in 2009. By 2014, production volumes are expected to grow to reach 20.4 million, back to the levels achieved in 2007.
Tags: production, recovery, SMMT