Research and Markets (http://www.researchandmarkets.com/research/2b7a20/europe_automotive) has announced the addition of the "Europe Automotive Sectors: A Company and Industry Analysis (August 2008)" report to their offering.
This report updates the previous European automotive report, focusing on the markets in France, Germany, Italy, Spain, Sweden and the United Kingdom
Current Environment - Key Points
- A deepening global slowdown along with gloomy growth prospects started to take a toll on European automakers
Sales varied from state to state through the first three months of the year, with France and Germany reporting growth, while previous strong performers such as Italy, Spain and Sweden suffering setbacks
- Most European automakers reported credible growth in the first quarter of 2008 as they resorted to a greater extent to cost-cutting initiatives
- Global automakers continued to seek growth in Europe in the first six months of this year, investing mostly in new member states, where new car sales are slated to rise faster than in Western Europe
- Restructuring efforts were again one of the main emphases for European automakers during the quarter, as they struggled with high raw materials costs and a flat European market
- The DJ Euro STOXX Automobile Index, a benchmark for automobile companies in Europe, fell 14.1% to 305 between January and March in 2008
- European automakers stressed that although growth was expected to continue in developing markets this year, the progress would be somewhat offset by declining demand in Japan, Western Europe and the US
Industry Profile - Key Points
- The European automotive industry is a major contributor to the EU economy, generating turnover of around -360 billion (US$560.516 billion), which represents 3.5% of the Europe's gross domestic product (GDP)
- Top European automakers have seen substantial increases in capital spending after committing large sums of money into product development, powertrain technology and new facilities in emerging markets to ensure future growth and stability
- In the tight race for market share, leading European players have aggressively scaled up their activities in emerging growth markets, investing billions of dollars in new and existing facilities
- Although new EU member states account for the lion's share of foreign direct investment, global auto giants have continued to invest in Western Europe in new product and capacity, reaffirming their commitments to existing investments
- In February 2008, the European Commission (EC) shocked the industry again with a new climate and energy policy to reduce carbon emissions from cars to 130g/km by 2012 - a reduction of 25% from current levels
Market Trends and Outlook - Key Points
- As soaring fuel prices spur demand for more fuel-efficient cars, European automakers along with other global auto giants are battling to define the next generation of vehicles with an array of eco- friendly vehicle launches and new technologies
- A surging euro and high labor costs are prompting European automakers to consider building new plants in the US
- A big priority for the industry at present is to achieve independence from fossil-based resources
To this effect, and in a bid to cut emissions, automakers in Europe are developing new engines
- The short-term outlook for the European automotive market in 2008 remains weak, with no signs of a swift revival, due to challenging market conditions including severe competitive pressures and unpredictable fuel and raw materials prices
- Competition between automakers should remain intense in 2008, stimulated by new product introductions and incentives in the form of discounts and rebates.
Key Topics Covered:
Current Environment - The Sector Pushes Through Hard Times - Sector Performance - Leading Automakers - Mergers, Acquisitions and Alliances Industry Profile - Industry Size and Value - Automakers Pursue Efficiencies in Growth Markets - Research and Development - New Policies and their Effects on the Automotive Industry Market Trends and Outlook - European Suppliers Look Abroad for Growth - A Growing Green Car Market - Automakers Hedge their Exposure to the Dollar - Market Outlook Country Profiles - France - Germany - Italy - Spain - Sweden - United Kingdom Currency Conversion Table The Scope of this Report Key References Comparative Data Reports Coverage
For more information visit http://www.researchandmarkets.com/research/2b7a20/europe_automotive
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Laura Wood, Senior Manager
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