Light vehicle production bounced back strongly in 2010 according to data exclusively provided by JD Power Automotive Forecasting to just-auto.
Following the collapse in 2009 (-20%), European light vehicle production finished 2010 on a strong note, up by 14.5% to 19.1m units.
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JD Power says that over the last year the industry has brought build into line with demand following the stock overhang in 2009, while European market demand is now showing more stability.
Exports volumes from Europe are continuing to surge ahead, up by over 300,000 units in 2010.
JD Power analyst Arthur Maher highlights higher exports for Europe’s premium carmakers in 2010.
“The likes of BMW and Mercedes-Benz have really benefited from increased export demand across Asia and North America,” he says.
“They were also less exposed to the scrappage incentive distortions of 2009-10 in Europe, which meant that they had a lower base to build on last year than was the case with some of the volume makers who were impacted by market reversals in Europe,” he added.
Maher believes that the immediate production prospects for 2011 are for a degree of stability.
“Export volumes will continue to increase but European market volumes could fall back slightly.”
From 19.1m units in 2010, JD Power is forecasting build of 19m units for 2011.
But Maher is also cautious on the outlook.
“The automotive sector will clearly watch closely how volumes unfold in the first three months of this year,” he says.
“And for the the first time in two years sector sentiment is probably evenly balanced; 2011 could turn out to be slightly better or worse against current budget forecasts.
“But to ignore the risk of a ‘Financial Crisis: Stage 2’ may still be premature at this stage,” he warns.
DETAILED DATA REPORTS AVAILABLE: JD Power’s monthly data for European passenger car production by vehicle manufacturing group, brand and model is available exclusively through just-auto.
An annual subscription to the detailed monthly data can be purchased through our store.
JD Power Automotive Forecasting provides a monthly update for European Passenger Car Production history, using the latest actual data and estimates. An annual subscription provides you with immediate access to the current edition, plus 11 further monthly updates.
Detailed production numbers are shown for the latest month and year-to-date, for both the current year and previous year for comparison. Model line detail is provided every month.
JD Power’s Estimated Pan-European Passenger Car Assembly by Model (annual subscription)
December data only (including full-year 2010)
