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Greece Autos Report Q3 2013

Greece autos market: Passenger car sales declined -40% in 2012

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2014-02-04 05:55:03 - Greece Autos Report Q3 2013 - a new market research report on

Passenger car sales in Greece declined 9.8% year-on-year (y-o-y) in the first four months of 2013, to 19,475 units. We forecast a decline of 15% in 2013 on the back of an increasingly bearish private consumption story.

Although this represents something of a moderation in the 40.1% decline in 2012, we caution that this does not show a resurgence in private demand; rather, we believe that the market is bottoming-out somewhat.

Vehicle sales have declined for five consecutive years amid extremely weak consumer sentiment. Despite the weakness in consumer sentiment, the market has little space left to drop. Over the remainder of our 2017 forecast period, we expect to see small declines in sales volumes.

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Mike King
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