The ACEA Economic and Market Report for the first half of 2019 provides an overview of the economic outlook and market trends in the EU automotive industry. The report highlights that the EU economy is expected to grow by 1.2% in 2019, with a slight slowdown in 2020. The passenger car market in the EU saw a decline in registrations in the first half of 2019, with a total of 8.7 million cars registered, down 4.4% compared to the same period in 2018. The decline was driven by a decrease in demand in key markets such as Germany and France. However, the report notes that the electric vehicle market is growing, with registrations of electric cars increasing by 49% in the first half of 2019. Production in the EU automotive industry also declined in the first half of 2019, with a total of 8.2 million cars produced, down 5.4% compared to the same period in 2018. The report also highlights that the EU automotive industry is heavily reliant on imports, with a trade deficit of €49.6 billion in the first half of 2019.
