ESCENARIOS PARA EL APRENDIZAJE

For Continental as an international automotive and industrial supplier, global business with the manufac- turers of passenger and commercial vehicles is the most important market segment, accounting for roughly 72% of revenues. The second-biggest market remains global replacement tire business for passen- ger and commercial vehicles. Geographically, the most important sales markets are still Europe with 55% and NAFTA with 22%. The share of revenues generated by the corporation in Asia has increased significantly in recent years and was already as high as 18% in 2012.

Vehicle markets

A key factor for our revenues in original equipment is global sales volumes of newly manufactured passen- ger cars, station wagons and light commercial vehicles weighing less than 6 tons, measured in terms of the worldwide production volume.

Development of new car registrations

Overall, global demand for vehicles developed posi- tively in 2012: A total of 79.3 million new vehicles were registered, up 6% on the previous year’s figure of 74.8 million units. Strong growth was recorded again on the U.S. vehicle market (+1.7 million units) as well as in China (+1.0 million units), which moved up to second place behind the U.S.A. in 2012 with a total of 13.2 million newly registered vehicles. In contrast, new registrations in Europe (EU27 + EFTA) declined by 8% to 12.5 million units as a result of the economic crisis. Southern European markets were particularly hard hit, with sales volumes declining by 15% in France and by 23% in both Italy and Spain. The number of new regis- trations in Germany also decreased, albeit only by 3%, whereas sales volumes in the U.K. were up 5%. The very high increase in new registration figures in Japan (30%) was chiefly due to the previous year’s sales slump resulting from the natural disaster in Fuku- shima in March 2011 and the subsequent catch-up effect following the rebuilding of production capacity in 2011 and 2012. However, on a quarterly basis the volume of new registrations already returned to normal over the course of 2012.

In addition to China, the other BRIC countries – Brazil, Russia and India – also displayed substantial sales volume growth of between 6% and 11% in 2012, representing a total increase of 0.7 million units. After a 10% increase in the previous year, the BRIC markets grew by 8% overall in 2012.

New registrations/sales of light vehicles in millions of units

2012 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Total Δ Prior Year Europe (EU27+EFTA) 3.4 3.5 2.8 2.8 12.5 -8% Russia 0.6 0.8 0.8 0.7 2.9 11% U.S.A. 3.5 3.8 3.6 3.6 14.4 13% Japan 1.4 1.1 1.1 0.9 4.6 30% Brazil 0.8 0.9 1.0 1.0 3.6 6% India 0.8 0.7 0.6 0.7 2.8 10% China 3.1 3.3 3.2 3.6 13.2 8% Worldwide 19.9 20.0 19.5 19.9 79.3 6%

Source: VDA and Renault

Development of light vehicle production

As a result of the global rise in demand for passenger cars, station wagons and light commercial vehicles, the number of vehicles produced also increased by 5% to over 80.9 million units in 2012 on the basis of preliminary data. A breakdown by country and region gives a similar picture as for new registrations: Half of the increase of approximately 4.1 million units was attributable to NAFTA, which thus reached its 2007 production volume again for the first time in five years. In Asia, Japan produced 9.4 million units (up by 1.5 million units as against the previous year that was impacted by the Fukushima disaster) and was thus back at a level comparable with 2010. In China, the strong growth in production continued and marked a new record of 18.3 million units (+1.0 million units). In contrast, production volumes in Europe fell by 1.4 million units as a result of the sharp drop in demand in Southern Europe.

Development of heavy vehicle production

In contrast to light vehicle production, global produc- tion of heavy vehicles (commercial vehicles weighing more than 6 tons) decreased by 8% or around 250,000 units on the basis of preliminary figures in the year under review, after a record volume in the previ- ous year. As expected, Europe saw a decline of 5%. There was a more substantial decline in volumes in Asia (-9%) and in Central and South America (-31%) as a result of significantly reduced production by heavy vehicle manufacturers due to high inventories.

In NAFTA, by contrast, the positive trend continued, with the number of commercial vehicles produced rising by another 10% in 2012. Although the total commercial vehicle production of 3.1 million units in 2012 was lower than the figures for the two previous years, it remained higher than the volumes in the crisis years 2008 and 2009.

Production of light vehicles1 _{in millions of units}

20122 2011 2010 2009 2008 Europe3 18.8 20.2 19.0 16.5 20.8

Production of heavy vehicles1 in thousands of units 20122 2011 2010 2009 2008 Europe3 615 646 503 330 845 NAFTA 496 451 311 265 418 South America 185 269 241 164 219 Asia 1,817 2,001 2,168 1,479 1,544 Other markets 8 7 8 8 8 Worldwide 3,121 3,374 3,231 2,246 3,034 Source: IHS 1 Commercial vehicles (>6t). 2

Preliminary figures and own estimates.

3 _{Western, Central and Eastern Europe including Russia and Turkey.}

Tire replacement markets

Global replacement business with passenger and truck tires is crucial to our sales in the Tire division.

Development of passenger and light truck tire replacement markets

Global demand for replacement passenger and light truck tires stagnated at just under 1 billion tires sold in 2012. However in some regions it actually plummeted. In Europe, for example, roughly 8% fewer tires were sold than in the previous year, primarily due to the economic crisis in Southern Europe. NAFTA also expe- rienced a decrease of 2%.

In contrast, sales volumes in Asia rose substantially by 4.5% to 278 million units. Asia thus continued to ex- pand its position as the second largest market for passenger tire replacement business. Sales volumes in Central and South America and in the other markets also increased further.

Overall, the global sales volume of 989.8 million tires sold in 2012 (on the basis of preliminary data) was lower than the previous year’s figure of 992.7 million tires.

Development of commercial vehicle tire replacement markets

Although replacement commercial vehicle tire business in 2012 did not match the previous year’s very strong volume development (138.4 million units), it remained at a very good level of 136.6 million units. The South- ern European economic crisis was reflected here in a 13% decline in demand in Europe, but sales volumes fell by 2% in both NAFTA and South America as well. In Asia more tires were sold than in the previous year again as a result of sustained economic growth. At 67.3 million units, about half of all replacement com- mercial vehicle tires were sold in this region.

Replacement sales of passenger, light truck and 4x4 tires

in millions of units 20121 2011 2010 2009 2008 Europe2 _{287.4 313.2 297.8 273.7 284.0} NAFTA 247.9 252.9 257.5 246.0 260.7 South America 59.3 57.5 55.1 48.1 49.5 Asia 277.6 265.8 245.9 215.8 211.0 Other markets 117.6 103.3 98.5 91.0 92.2 Worldwide 989.8 992.7 954.8 874.6 897.4

Source: LMC World Tyre Forecast Service 1 _{Preliminary figures and own estimates.}

Replacement sales of commercial vehicle tires in millions of units 20121 2011 2010 2009 2008 Europe2 18.9 21.9 20.4 16.5 21.6 NAFTA 20.5 20.9 19.6 16.4 18.7 South America 12.7 13.0 12.7 10.7 12.3 Asia 67.3 65.7 63.4 59.5 59.3 Other markets 17.2 16.9 16.4 14.9 15.5 Worldwide 136.6 138.4 132.5 118.0 127.4

Source: LMC World Tyre Forecast Service 1

Preliminary figures and own estimates.

2

Western, Central and Eastern Europe including Russia and Turkey.

Development of the raw material