Aspects of Forecasting for the European Automotive Industry

The present paper aims to identify specific mathematical models of consumer behavior in the European automotive industry in order to increase the forecast accuracy. Thus, industry specific supply chains can obtain valid information of future demand, in order to better scale their structures of production, thereby reducing costs and thus increasing the value provided to the customer, a beneficial approach for improving the competitiveness level attained on the global market. Using historical data on new car registrations in the EU, appropriate autoregressive models were identified for consumers’ behavior that can be used as real solutions to increase the accuracy of forecasts made in the industry.