The Geneva Motor Present, which opens this week, is shaping up as a metaphor for the car industry’s cautiously optimistic outlook on Europe.
Even though predicting the European marketplace will return to growth this year, automakers are betting on smaller sized versions to support trip out what Didier Leroy, head of Toyota Europe, described as a “very, quite slow recovery.”
Toyota is rolling out a new version of its pint-sized Aygo city vehicle at the demonstrate. The 3-cylinder model is produced in a joint venture with PSA Peugeot Citroën–the latter’s Peugeot 108 and Citroën C1 vehicles are created on the very same platform. And French automaker Renault is unveiling an update of its Twingo minicar in Geneva.
Fiat Chrysler is employing the display to launch one more modest model, the Jeep Renegade compact sport-utility car. The Renegade, which will be built in Italy, shares underpinnings with Fiat’s 500X, a crossover edition of its well-known Fiat 500 city vehicle. The Renegade will be obtainable in Europe in September, with U.S. exports planned for some time later on. “The Renegade and 500X are excellent examples of one thing Fiat and Chrysler couldn’t have done” before their merger, management professor Robert Verganti of Milan Polytechnic advised Bloomberg. “They are exploiting Fiat knowledge in little autos to timely launch a Jeep model in a section that is in fact booming.”
European passenger-car demand rose 5.5 % in January, according to the European Automobile Companies Association–the fifth consecutive monthly boost as the industry pulls out of a 6-year slump. The group predicts European deliveries will rise 2 percent this yr, over the forecast one.2 percent growth across the 18 nations in the euro currency bloc.
This kind of modest numbers contrast sharply with the U.S., the place automobile revenue jumped 7.6 % in 2013 regardless of wintry climate that slowed year-finish revenue. Demand also is sturdy in China BMW says it ideas to include 2 factories there.
Reflecting the industry’s a lot more-cautious strategy in Europe, Citroën has announced plans for an urban crossover model, the C4 Cactus, which it says will target spending budget-minded buyers. The revenue value hasn’t been disclosed, but the business has mentioned it will value about 20 percent significantly less to operate than comparably-sized vehicles.