Since the onset of the financial crisis Europe lost around 10 million units of car sales, which translates to massive pent up growth. In 2014 alone, car sales will grow by about five percent, reaching peak levels in the 2020s. There are two concerns for European car manufacturers in the near future however – the onset of rental and car sharing systems and a general disinterest among younger consumers of buying new cars.
Watch on Youtube
Hear Neil King speak at the 3rd ICIS European Butadiene & Derivatives Conference