European automakers cautiously optimistic for 2015

The European Automobile Manufacturers’ Association (ACEA), whose members comprise BMW Group, DAF Trucks, Daimler, Fiat Chrysler Automobiles, Ford of Europe, Opel Group, Hyundai Motor Europe, IVECO, Jaguar Land Rover, PSA Peugeot Citroën, Renault Group, Toyota Motor Europe, Volkswagen Group, Volvo Cars and Volvo Group, has set out its forecast for 2015 and released last year’s registration figures for electric vehicles.

Last year, new passenger car registrations were up 5.7 percent on the previous year, reaching 12.6 million units. “This is significant because it was the EU’s first positive annual result since the financial crisis began in 2007, with December marking the 16th consecutive month of growth,” said ACEA president, Carlos Ghosn. “However, our optimism about this early sign of recovery must be tempered with caution, given the economic uncertainties still facing many countries.”

ACEA expects growth to continue in 2015, but at a considerably slower pace, with a year-on-year forecast in the region of 2 percent. In terms of units, this would mean edging closer to the 13 million units mark.

ACEA also released the provisional 2014 sales figures for all types of Electrically Chargeable Vehicles (ECVs). Last year 75,331 ECVs were registered in the EU. Although this is up 37 percent on the 2013 figure of 55,142, it still represents just 0.6 percent of the total market. ACEA Secretary General Erik Jonnaert commented: “ACEA’s members will continue to invest in alternative powertrains, including electric, hybrid, fuel-cell and natural gas-powered vehicles. This needs to be supported by the expansion of the charging infrastructure, as well as a more consistent EU-wide approach to customer incentives.”

ACEA is also taking the opportunity of its Annual Reception to re-iterate its three policy recommendations:To drive innovation, to foster growth through international trade; and to build a supportive regulatory framework. “These are the three keys to building upon the fresh growth in our automobile market, and to supporting the political agenda for jobs, growth and investment,” stated Ghosn.

Around 12.7 million people – or 5 percent of the EU employed population – work in the sector. The 3 million jobs in automotive manufacturing represent 10.3 percent of EU's manufacturing employment. Motor vehicles account for €388 billion (Rs 2,965,872 crore) in tax contribution in the EU15. The automotive sector, which is also a key driver of knowledge and innovation, representing Europe's largest private contributor to R&D, with €32.3 billion (Rs 246,901 crore) invested annually, contributes significantly to the EU trade balance with a €95 billion (Rs 726,180 crore) surplus.