European Vehicle Production Outlook ‘Very Good Indeed’
The Society of Motor Manufacturers and Traders anticipates a rise in vehicle production volumes this year, the start of a recovery that will accelerate over the next two years. “Looking at the production picture in Europe at the moment, we think the recovery is actually beginning now and despite the threat of the financial crisis hitting Europe we think there is a good chance that 2010 will be much better than had been hitherto thought,” stated Ian Henry, director of AutoAnalysis and author of the May 2010 SMMT report on production outlook. “We actually now think that in 2010 the volumes will actually be up over 2009 and we think there’ll be a further recovery in 2011. But the real climb back will come from 2012, once the financial crisis has completely been erased and a range of new models come on-stream.”