Here's an overview of how the EU market is doing
Joining them to display positive growth this month are Cyprus (+26.8%), Greece (+10.5%), Latvia (17.1%) and Sweden ( +8.6%). The other markets in the EU continue to witness downtrends - Italy (-15.1%), France (-10.1%), Spain (-11.5%) and Germany (-10.2%).
Asian manufacturers are displaying stronger performances and continuing on their growth path:
- Hyundai (+9.8%)
- Toyota (+5.1%)
- Honda (+15.4%)
On the other hand, European manufacturers are still affected by the situation:
- Volkswagen Group: -19.6%
- Stellantis: -14.6%
- Renault: -10.3%
- Volvo: -21.5%
The forecast for June
We forecasted the European passenger car market by building 35 models composed of 13 leading indicators on data from 2003 to 2022. Indicio then weighted each model depending on performances at each horizon to create an aggregate forecast. We anticipate a downtrend with 949.k passenger car registrations in June, which represents a -9.4% YoY decrease compared to June 2021.
Interested to learn more about how you can use this methodology to generate your forecasts?