The UK-based Society of Motor Manufacturers and Traders (SMMT) has published a new report forecasting that European automotive production will reach 20.4 million by 2014, back to 2007 levels. In 2010, the industry is expected to see year-on-year growth of nearly 7%, from 16.1 million units to 17.2 million units. The report, European Car and LCV Production Outlook Report, states that production volumes have been underpinned by better than expected performances from several vehicle manufacturers and specific models.
In the group’s press release, SMMT’s chief executive Paul Everitt states, “Although vehicle production volumes across Europe fell by more than 2.8 million units in 2009, there is increasing confidence regarding 2010 and beyond, thanks to the acceleration of new model programmes and the strong performance by many vehicle manufacturers over the first quarter of 2010.”
The group is providing access to the report’s executive summary free to non-members for a limited time. See this link.
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