2013-02-03 16:29:59 - New Transportation market report from Business Monitor International: "Italy Autos Report Q1 2013"
In the first 10 months of 2012, passenger car sales in Italy declined 19.6% year-on-year (y-o-y), to 1,203,022 units. Over the course of the year, BMI forecasts a decline of 20% in this segment. We forecast private consumption to contract in 2012 as Italian households are hit by ongoing austerity measures, including higher taxes and cuts in social spending. Further, unemployment will also continue to weigh on consumption. Indeed, liberalisation measures passed by the Monti government have failed to radically overhaul inflexible labour laws that will discourage employers from rapidly expanding their payroll as the economy picks up. This bearish consumer outlook has partly informed our passenger car sales outlook.
Many companies have seen large declines in their sales figures in
the weak Italian market. The market continues to be dominated by Fiat Group, comprised of Fiat, Alfa Romeo, Chrysler, and Jeep, which, over the first nine months of 2012, has a total market share of 29.7%. The Group's total sales declined 20% yo- y in this period.
Full Report Details at
In the first eight months of 2012, passenger car production in Italy declined 18.2% y-o-y, to 284,893 units. BMI forecasts this segment to decline 16% in 2012. Public investment has declined markedly in Italy due to austerity measures, and private investment is also being hit as the sovereign's high borrowing costs filter into tightening credit conditions across the economy. Further, we believe that Italy's labour market remains relatively uncompetitive and rigid, and vehicle production, and industrial output more generally, will continue to decline. This has partly informed our bearish production forecast.
In the first 10 months of 2012, trade association ANFIA estimate that used car sales in Italy (measured by the certification of successful transfer of ownership issued by the Office of Motor Vehicles) to have totaled some 3,426,613 units. Although this figure represents a decrease of 9.7% y-o-y compared with 10m11, it is both a considerably larger market than the new car segment, and a much smaller decline in sales volumes. BMI believes that, as weak private consumption and high unemployment continue to drive new passenger car sales down, Italian consumers will look to the used car market.
Report Table of Contents:
- Italy Auto Industry SWOT
- Italy Political SWOT
- Italy Economic SWOT
- Italy Business Environment SWOT
- UK Boosts Europe, But Favourites Still Outperform
- Table: Passenger Car Sales 8M12
- Incentive Boom For Japan, US Powers On
Industry Risk/Reward Ratings
- Poor Show From Western Europe Hurts Region's Score In BMI Ratings
- Table: BMI Industry Risk/Reward Ratings For Autos In Europe
Macroeconomic Forecast Scenario
- Table: Italy - GDP By Expenditure, Current Prices Breakdown, 2008-2016
Industry Forecast Scenario
- Domestic Sales
- Table: Italy Auto Sales - Historical Data And Forecasts, 2010-2017
- Table: Italy Auto Production - Historical Data And Forecasts, 2010-2017
- Table: Italy Auto Trade - Historical Data And Forecasts, 2010-2017
- Table: Passenger Car Exports By Brand
Passenger Vehicles - Forecast & Analysis
- Table: Italy Passenger Car Segment - Historical Data And Forecasts, 2010-2017
- Table: Passenger Car Sales By Brand
- Table: Passenger Car Production By Brand
- Table: Used Car Sales By Brand
- Table: Average Age of Cars
- Segment News
Commercial Vehicles - Forecast & Analysis
- Table: Italy Commercial Vehicle Segment - Historical Data And Forecasts
- Segment News
Motorcycles - Forecast & Analysis
- Table: Italy Motorcycle Segment - Historical Data And Forecasts
- Table: Italy's Population By Age Group, 1990-2020 ('000)
- Table: Italy's Population By Age Group, 1990-2020 (% of total)
- Table: Italy's Key Population Ratios, 1990-2020
- Table: Italy's Rural And Urban Population, 1990-2020
- How We Generate Our Forecasting Model
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