Welcome!

API Journal Authors: Liz McMillan, Peter Silva, Elizabeth White, Sujoy Sen, Lori MacVittie

News Feed Item

PwC's Autofacts Estimates European Automotive Market Sales Declined 15.4 Percent in December, 7.8% vs. Prior Year-End

MILAN, Jan. 16, 2013 /PRNewswire/ -- European Union and European Free Trade Association (EU+EFTA) new car registrations declined 15.4 percent to 843 thousand units in December, according to estimates from PwC's Autofacts.  This brought the 2012 year-end results down by 7.8 percent to 12.53 million units, representing the fifth consecutive decline in new car registrations in the EU+EFTA, a 3.5 million unit decline from the 2007 industry peak.

(Logo: http://photos.prnewswire.com/prnh/20100917/NY66894LOGO)

Autofacts believes that most markets will continue the current negative trend through the first half of 2013.  But, the economic situation will likely stabilise mid-year and begin to see growth in some markets in the second half of the year. The net result is a further decline in the forecast of 1.2 percent to 12.4 million units for 2013.

While concerns around the debt crisis and Euro zone break-up have abated, austerity measures are still impacting economic growth, unemployment, and consumer confidence. These factors, plus political uncertainty in Italy, provide downside risks to the forecast that could push demand below 12 million units. Conversely, if the economic situation improves more rapidly than assumed, some markets could experience strong recovery from their extreme low points due to significant pent up demand.

"During the past few years, automakers needed to cut costs throughout their organisations to offset the lacklustre sales throughout Europe," said Giorgio Elefante, PwC automotive partner. "To consolidate costs, many automakers announced plant closures and layoffs in 2012 to take effect in the coming years. We will begin to see these cuts taking effect in 2013.  Automotive companies have trimmed any remaining fat and are now cutting into the bone to sustain their business operations. We will continue to see some challenges in 2013.  However, we are cautiously optimistic that we are close to the bottom, and will likely begin to see improvement in the second half of 2013."

During the past few years, governments in many markets stepped in to provide incentives to boost sales.  In Belgium, much of the 54 percent decline in 2012 compared to December 2011 was due to the end of lower emission vehicle incentives to boost sales. The government's decision to abolish some lower emission car incentives at the beginning of 2012 caused a rush to buy in December 2011 and the resulting year-on-year fall.

The UK market grew 3.7 percent in December, taking the full-year total up 5.3 percent to 2.04 million units, according to Society of Motor Manufacturers and Traders (SMMT). The UK was the only major market to achieve growth in 2012 and this development was driven largely by private consumers. Autofacts does not expect this positive trend to continue in 2013. The UK still faces a challenging environment with weak economic growth, stagnant disposable incomes and rising unemployment. These factors could negatively impact the private buyer who pushed the market up in 2012. As a result, Autofacts forecasts a 1.2 percent decline in new car demand to 2.02 million units in 2013, with a return to growth thereafter as the economy improves and unemployment declines.

In line with much of the rest of Europe, the German car market contracted in 2012. KBA data showed that new car demand fell by 2.9 percent to 3.08 million units for the full-year. The premium segment was affected the most and declined by 13.9 percent, whereas the mini (20.3 percent) and SUV (17.4 percent) segments recorded double-digit growth. Autofacts forecasts a slight decline of 1.38 percent to 3.04 million units in 2013, while improvement in the outlook is expected in 2014 (2.8 percent) and 2015 (4.0 percent) respectively.

Other European markets saw greater declines including Italy, which registered 86,735 units in December, a decline of 22.51 percent compared to December of 2011.  Italy ended 2012 with a decline of 19.87 percent to 1.40 million units.  Spain reported 51,197 units in December, a decline of 23 percent.  The year ended with a decline of 13.4 percent to 699,589 units in 2012 year-on-year. France reported 160,426 units, a decline of 14.5 percent in December compared to the same period last year.   This represents a year-on-year decline of 13.9 percent to 1,898,872 total units registered.

For more details about specific European markets, visit http://autofacts.com/ to download the full European car market review.

About PwC's Automotive Practice

PwC's global automotive practice leverages its extensive experience in the industry to help companies solve complex business challenges with efficiency and quality.  One of PwC's global automotive practice's key competitive advantages is Autofacts®, a team of automotive industry specialists dedicated to ongoing analysis of sector trends.  Autofacts provides our team of more than 4,700 automotive professionals and our clients with data and analysis to assess implications, make recommendations, and support decisions to compete in the global marketplace.

About Autofacts®

Autofacts, PwC's automotive forecasting service, is a provider of automotive market analysis, strategy development, and competitive intelligence to the world's leading vehicle manufacturers, automotive suppliers, and support organizations.  Autofacts service offerings are available on-demand, for one-time purchase and through an annual subscription basis to access the on-line portal with Autofacts' proprietary data query tool.  For more information regarding Autofacts, please visit their website at www.autofacts.com.

European Automotive Retail & Distribution

A part of PwC's dedicated Global Automotive Practice, the European Automotive Retail & Distribution Network connects PwC industry specialists from all Lines of Service (deals advisory, business consulting, assurance, tax and legal services) to deliver specific services tailored to the respective business needs of downstream players. Our key focus is to deliver world-class integrated services to our clients, which include OEMs and their NSCs, as well as large dealer groups, independent importers, associations, financial investors and regulators.

About the PwC Network

PwC firms help organizations and individuals create the value they're looking for. We're a network of firms in 158 countries with more than 180,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.pwc.com.

Learn more about PwC by following us online: @PwC_LLP, YouTube, LinkedIn, Facebook and Google +.

© 2013 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. 

This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.

SOURCE PwC

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Akana has announced the availability of version 8 of its API Management solution. The Akana Platform provides an end-to-end API Management solution for designing, implementing, securing, managing, monitoring, and publishing APIs. It is available as a SaaS platform, on-premises, and as a hybrid deployment. Version 8 introduces a lot of new functionality, all aimed at offering customers the richest API Management capabilities in a way that is easier than ever for API and app developers to use.
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...