European vehicle production was up 5.3% in 2007, according to the European vehicle manufacturers trade association ACEA. Member automakers built 19.7m cars trucks and buses, of which 16m were sold in Europe (defined as the 27 European Union countries).
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Passenger cars accounted for 87% of vehicles produced, up 5.5% on a year earlier. The highest growth was in the market for trucks, up 15% thanks to booming European demand. Light commercial vehicle production was up 2%, while bus production was down 24%.
New EU member states posted a 25.2% rise in automotive production and accounted for 15% of total EU motor vehicle production and 17% of passenger car production during 2007.
Demand for new vehicles in Europe was up 1.8% to almost 16m units. 92% of sales were in western Europe, but demand there was down 0.2%.
ACEA attributed the decline to “soaring oil prices, changes in taxes, the global credit crunch and declining purchasing power.” Demand in the new EU member states was up 13.9%. Truck registrations were up 6.8%, while van demand was up 7.1% and bus demand 4.4%.
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By GlobalDataFor 2008 ACEA is forecasting a stagnant market. New member states are forecast to grow 0.9% while western Europe is forecast to decline 0.6%. Of the main markets, only France and Germany are expected to register more cars than last year. 2008 started with a mild decrease (-0.3%) in western Europe while the new member states were up 20.1%.
