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August 27, 2012 01:00 AM

Europe's auto industry won't see full recovery until 2020, study says

Paul McVeigh
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    The European auto market won't return to pre-crisis levels until the end of the decade, according to a study.

    The euro crisis and high unemployment will continue to affect consumer confidence for years to come, business consultants AlixPartners forecast in their latest Global Automotive Outlook.

    Western Europe will see demand for new passenger cars and light commercial vehicles fall by about 1 million next year to 13.5 million, which is 3.3 million units below the sales level seen before the financial crisis hit in 2007, according to the consultants. "Industry sales are unlikely to reach 16 million units again before 2020," the study says.

    AlixPartners joins a growing number of analysts and industry executives who say Europe won't see a recovery in the midterm.

    GLOBAL MONTHLY

    This is a summary of a story from Automotive News Europe's new Global Monthly publication. The issue contains a collection of the month's top international stories, along with expert analysis and data such as European sales by model from JATO Dynamics.

    The Global Monthly is published in PDF form and it can be customized, downloaded and read from a desktop computer, tablet or e-reader.

    Backed by an international team of 50 editors and reporters, the Global Monthly offers a strong editorial voice from Automotive News Europe and its sister publications, Automotive News and Automotive News China.

    Subscribers can customize their Global Monthly by adding additional articles or data tables in a PDF format from the archives of the Automotive News Group.

    Click here for more

    LMC Automotive said the July annualized selling rate for the western European car market of 11 million units highlights the "desperate" situation faced by the car industry.

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