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Customer LoginsIHS Automotive global production forecast drops nearly 2.6 million units through 2018 on back of UK's vote to exit the EU
IHS Automotive has released its preliminary expectations as to how light vehicle production will be impacted by the UK's vote to exit the European Union (EU).
This analysis is based on a simulation of the changes to the global sales forecast applied to the June light vehicle production forecast. Please note that this is a straight adjustment to the production forecast assuming current sourcing patterns and does not assume any change to trading relationships (tariffs).
- Light vehicle production will grow between 2016 and 2018, but this will now be more muted.
- For 2016 we expect global production to hit 91.384 million units, 173,000 units below our June forecast, which stood at 91.567 million units. This would reduce the calendar year growth over 2015 to 3.0% from 3.2%.
- A more significant reduction is seen in 2017, when we expect output at 92.331 million units against 93.515 million units in our June forecast. The reduction in output is 1.184 million units and reflects year on year growth of 1.0% compared to 2.1% anticipated in the current forecast.
- In 2018, we see a reduction in the forecast of 1.238 million units from 95.841 million units to 94.603 million units. In this case the year on year growth is 2.5%, in line with our June forecast but from a lower base.
About this article
The above article is from IHS Automotive Same-Day Analysis of automotive news, events and trends, and is a deliverable of the World Markets Automotive Service. The service averages thirty stories per day and also provides competitor and country intelligence. Get a free trial.