Carmakers see promise of bonanza in eastern Europe

Carmakers see promise of bonanza in eastern Europe

Carmakers see promise of bonanza in eastern Europe

As Frankfurt’s IAA auto show gets under way, European carmakers are looking to the continent’s east for growth, where increasing numbers of people are wealthy enough to afford their own wheels.

“It’s the east that’s really driving Europe,” said industry expert, Laurent Petizon of AlixPartners.

Car sales there increased 14 percent year-on-year in the first three months of 2017 alone, to almost 700,000 vehicles, market research firm Jato found.

Poland saw sales grow by 15.5 percent to 277,000 vehicles in the same period, making it Europe’s seventh-largest car market.

Over the whole year 2017, sales are expected to reach a new record of 1.3 million in a region stretching from northerly Estonia to Bulgaria on the Black Sea — up 10 percent year-on-year.

Want to discuss about the post you just read? Visit Tokyo 2020 Forums!