By Rob Starr, Content Manager, Big4.com
PwC’s automotive analyst group, Autofacts, today announced that it expects 2013 global light vehicle assembly will exceed 83 million units, an increase of 5.1 percent from 2012’s total. Autofacts expects the global market to remain positive overall, while the European Union and Japan will continue to be areas of concern.
PwC’s global automotive practice leverages its extensive experience in the industry to help companies solve complex business challenges with efficiency and quality. One of PwC’s global automotive practice’s key competitive advantages is Autofacts®, a team of automotive industry specialists dedicated to ongoing analysis of sector trends. Autofacts provides our team of more than 4,700 automotive professionals and our clients with data and analysis to assess implications, make recommendations, and support decisions to compete in the global marketplace.
While 2012 was a boom year for the region, sales and assembly growth are expected to taper in 2013. Pent-up demand continues to exist in the market with the average fleet age in the U.S. at approximately 11 years. U.S. sales are expected to reach 15.3 million units in 2013, up from 14.4 million units in 2012. In terms of assembly for the region, Autofacts is forecasting 15.8 million units for 2013, up from 15.4 million units in 2012.
“Automotive companies remain cautious about economic conditions in Europe,” said Rick Hanna, global automotive leader, PwC. “However, overall we estimate that the global automotive industry will prosper in 2013 from emerging market growth and remaining pent-up demand in the U.S.”