[UPDATE]
ACEM reports a -27% decline in one year (Sep08-Sep09)
Fragmentation of the sector sharpens the effects of the economic crisis
The PTW sector first felt the sting of the economic crisis during the last quarter of 2008 when a sharp drop of -34% was first reported. Overall 2008 ended with an apparently soft -7%, however registrations continued to show signs for concern since the beginning of 2009* confirming that the crisis had started to affect the PTW sector.
At the end of the first quarter of 2009, figures confirmed that the long lasting growth (+23%) experienced by the PTW market in the years 2002-2007 had come to an end.
Furthermore a new market analysis tool allowing to closely monitor the trends and perfom statistical queries will allow ACEM to provide timely updates in the near future.
A year into the crisis now, more precise conclusions can be drawn from available figures. The overall decline, since September 2008, touched the -27% line, compared to market a year earlier. Mopeds suffered more, with a decline of -32%, compared to motorcycles -24%. In terms of units this drop equals to 650.000 less units sold. If confirmed, the trend for 2009 will probably reach a contraction of 25% bringing back the market by 16 years.
Registrations show that the crisis hit the new Member States harder. While the EU15 declined by -20%, in the EU12 a -36% market reduction had to be acknowledged. These divergences among countries are best highlighted by the comparison between Italy and Spain. While Italy suffered only a -4% due to quick response by the authorities, in Spain the marked collapsed by -49%. The reasons for this lie in the adoption of anticrisis measures in Italy and in the poor management of the situation in Spain (see article). This comparison clearly indicates how appropriate measures by governments can support consumer demand and set the market back on track.
Jacques Compagne, ACEM Secretary General, during a recent European Economic and Social Committee public hearing (see article) explained the reasons for such a dramatic result. On top of the crisis that impacts all the sectors, the specificities of the PTW sector characterized by a fragmentation of the market and a strong seasonality of the sales generated an amplifier effect, reinforced by an obvious lack of coordinated supporting measures either from governments or from credit institutions. A cascade of consequences such as overstocks of vehicles and components, sourcing difficulties, additional tooling and stock costs were a liability not only for manufacturers but for the upstream and downstream as well.
The 6th ACEM Conference, taking place in Brussels on January 28, 2010, will give a thorough analysis of the full economic results for 2009 and make proposals aimed at steering the PTW industry back on positive grounds.
* Data are provisional, as figures for 2009 are to be confirmed for some countries.
[INDEX]
EESC PUBLIC HEARING ON EUROPEAN PTW INDUSTRY
SPAIN'S STRUGGLE TO FIGHT THE CRISIS IN THE PTW SECTOR
WHO ADOPTS DECLARATION ON ROAD SAFETY
ELECTRIC PTW PRESENTED IN THE CONTEXT OF THE ESUM PROJECT