While 2012 was a year of recovery for global automakers, 2013 looks like being even better if the latest forecast from PwC's Autofacts (Detroit, MI) proves true. Autofacts goes further in predicting that global light vehicle production in 2019 will top 107 million.
2013 year-on-year growth of 5.1% is positive given global economic uncertainty. Indeed Autofacts highlights the European Union and Japan as continued areas of concern. "The European outlook remains a significant concern for the automotive industry, both in terms of its regional importance as well as the threat of a global contagion scenario," notes Autofacts. "While there continues to be fluctuation below the topline, the region as a whole is expected to see a further, albeit slower, decline in 2013. Most markets will likely see a depressed first half of 2013 with some territories realizing a slight recovery as economic conditions begin to improve toward the end of the year," the analyst notes. With this in mind, Autofacts is forecasting EU assembly of 15.6 million units in 2013, a decline of 200,000 units compared to 2012....