The French carmaker Renault is even more pessimistic for the global car markets. Overall, the market volume is expected to decline this year by 3 percent, said Sales Director Olivier Murguet on Tuesday in front of journalists. Previously, Renault had expected only about half as strong decline.
Suppliers Schaeffler has pessimistic market prospects
The German supplier Continental was still expecting a stable market for passenger cars and light commercial vehicles in May because production was expected to stabilize in the second half of the year. However, supplier Schaeffler has recently been more pessimistic about the market outlook for the second half of the year than before.
In particular, the slump in the Chinese market as a result of US-Beijing tariff disputes hit the industry a year ago. In June, sales volumes finally increased again after one year of calm – market leader Volkswagen is still hesitating as to whether there will be a sustained turnaround in demand in the key single market of German carmakers. According to the Wolfsburgers, a forthcoming change in emissions regulations drove sales up.
Renault expects in europe stable business in 2019
Renault itself sold in the first half with 1.94 million vehicles 6.7 percent fewer cars than in the same period last year, the company announced in Boulogne-Billancourt. Especially in Africa, the Middle East, India and China, the company suffered losses in passenger cars and light commercial vehicles. In China Renault, however, has no major foothold. A slight plus in the rest of Europe weighed on a decline in the home market of France. The Group expects a stable business for its own cars in Europe in 2019 – excluding a so-called “hard Brexit”.