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Auto Suppliers Cautious About Growth in Europe
Car sales in western Europe climbed 7% in the first quarter of 2014.
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Car sales in western Europe climbed 7% in the first quarter of 2014. But many major auto suppliers continue to forecast full-year market growth of 2% or less for the region, notes Automotive News Europe.
Just last month Continental AG told analysts it expects sales of light vehicles to expand only 1% in Europe this year. Explains Chief Financial Officer Wolfgang Schaefer to ANE, "We see a sideways situation in Europe."
Other suppliers caution that growth in northern Europe is being tempered by little or no gain to the south. Some point out that EU28 volumes are still near 20-year lows. Unlike the U.S., the relative age of Europe's car fleet is relatively young, suggesting weak demand for replacement cars.
Some analysts expect European suppliers to raise their outlook as the year continues but only if consumer sentiments improves.
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