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ExpertEye European Automotive Report Q3 2016

The latest facts and figures about the automotive market in Europe covering everything you need to know about new vehicle sales, residual values and the key economic and political factors affecting the European automotive industry.

This quarter's headlines:

Economic Climate

  • Euro area GDP recovery remains slow but steady
  • Italian banking crisis continues with shares plummeting and €270 billion on non-performing loans
  • Globalisation backlash and two general elections and a referendum put the EU at risk
  • EU decide not to punish Spain or Portugal for breaching budget deficit rules

New Vehicle Sales

  • New vehicle sales growth slows down with the 2007 sales record now unlikely to be beaten until 2018
  • Italy cancels a 2017 2 percentage point VAT rise which had been fuelling strong new vehicle sales growth
  • Falls in Sterling shifts new vehicle sales push from the UK into the eurozone
  • New vehicle sales still set to start falling during 2019 but globalisation backlash puts severe downside risk into forecast

Residual Values

  • RVs continue to settle down as most countries are seeing them plateau
  • The UK already seeing a declining RV trend with other European markets soon to follow the downward cycle
  • Premium brands and SUVs continue to enjoy high RVs and sales
  • Globalisation backlash could see RVs fall sharply if further political upsets happen

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CV Bloggers

Dean Bowkett
Bowkett Automotive Consulting - Managing Director

Dean Bowkett is an experienced senior automotive executive with over 24 years' experience within the industry and he is a Fellow of the Association of Chartered Certified Accountants.

Having started in external audit he has worked in automotive manufacturing, full-service leasing, wholesale and retail financing, automotive data research and analysis plus retail automotive dealerships. His expertise includes product development (automotive vehicles and financial services), business strategy, residual value management, pricing and commercial operations. He has worked for and with a number of leading automotive and Financial Services brands including General Motors, Hyundai, Kia, MG Rover, Vauxhall/Opel, Nissan, PSA, Europcar, Hertz, Masterlease, Leaseplan, GE Capital, Lloyds Bank and GMAC/GM Financial.

He now provides consultancy services to the automotive industry via Bowkett Auto Consulting Ltd where he is able to call on his experience from spending almost five years as the Technical Director and Chief Editor for EurotaxGlass's Global Services Division before which he was the Group Chief Financial Officer for GMAC International's US$3 billion Discops division and a member of several supervisory boards, the division included 31 businesses spread over 25 countries, and before that he worked for MG Rover Group initially in new product development before becoming head of commercial finance for their UK NSC.

Dean is a keen advocate for the closer integration of data and information across the automotive industry to provide a more rounded view and thus enable better informed decisions to be made.

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Mike Antich
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Dean Bowkett
Bowkett Automotive Consulting

Peter Cooke
University of Buckingham Business School

Tony Elliott
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Hayri Erce
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Ilkay Ersoy
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