OREANDA-NEWS. Fitch Ratings says in its latest EMEA Automotive dashboard that manufacturers' guidance for 2015 is cautious. Earnings and cash generation were solid in 2014 but Fitch believes that sales have weakened in some markets and investment will remain high.

The dashboard highlights current sector themes such as the further sales decline in Russia and Latin America, FX developments and the sales recovery in Europe.

Fitch does not expect any specific effect from these issues on the sector's rating outlook which remains moderately positive. In particular, European carmakers have gained headroom in their ratings following robust 2014 earnings and cash generation and stronger capital structures.

A complete review of these topics including a review of the dashboard is available at www.fitchratings.com or by clicking the link above.