The Frankfurt-based global auto industry analysis team of credit rating agency Moody’s has revised down its expectations for global automotive growth in 2013 and predicted UK car sales will fall this year.
At present, Moody’s expects worldwide sales to rise 4.9% year-on-year in 2014 as the global economy recovers, including a 5% rise in demand in Western Europe, with US sales up by 5.2% in 2013 and up by 4.9% in 2014.
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It estimates 1.94 million new sales in the UK in 2013, a fall of 5.1% on the 2.04 million sold in 2012, followed by a recovery of 4.1% to
2.02 million sales in 2014. This is at odds with estimates from the Society of Motor Manufacturers and Traders, which estimates 2.05 million sales in 2013 and 2.11 million sales in 2014, a revision up from the 2.02 million and 2.06 million estimations, respectively, made in November 2012.
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