2012-08-31 13:55:47 - Recently published research from Business Monitor International, "Hong Kong Autos Report Q3 2012", is now available at Fast Market Research
Unquestionably the biggest development to hit Hong Kong's auto industry in Q212 was the move by Japan's Nissan Motors, the country's second-largest car manufacturer, to use Hong Kong as a regional headquarters for its luxury Infiniti model. Nissan is seeking to use the city-state as a gateway into the lucrative neighbouring Chinese market and could set a precedent if it enjoys success. The move is certainly a major victory for Hong Kong's auto sector over that of its regional rival Singapore.
BMI is still expecting to see total passenger car sales in Hong Kong grow in 2012 but with growth dipping to 3.92% to 34,668 units. Commercial vehicles, on the other hand, should accelerate to 9.44% (from 4.38%), taking total units
to 4,196 and marking the highest volume since 2008, prior to the global economic crisis. Total imports are expected to increase by 5.61% to 36,328 units
In 2012, we expect Hong Kong's economy to deteriorate markedly, in tandem with our expectations for weaker economic activity, both globally and in China. We have thus revised our real GDP growth forecast down to 2.2% from 3.0% previously. Hong Kong's real GDP growth met our expectations, with a year-on-year (y-o-y) expansion of 3.2% in Q411 taking full-year growth to 5.0%. On a seasonallyadjusted basis however, real GDP growth strengthened from 0.1% quarter-on-quarter (q-o-q) to 0.3% from the third quarter. In what is a clear reliance on the city's export sector, a 0.9% q-o-q growth in the good exports helped to mitigate effects of the global downturn that saw growth across private and government consumption and service exports growth either slow or contract.
Full Report Details at
Though too small to sustain a significant auto manufacturing industry, Hong Kong has a noteworthy auto component production sector and could make headway in electric vehicles, with the likes of the two-door Mycar coupe produced by EU Auto Technology in partnership with Hong Kong Polytechnic University now available in several markets including the UK, France and the US.
Report Table of Contents:
- Hong Kong Auto Industry SWOT
- Hong Kong Political SWOT
- Hong Kong Economic SWOT
- Hong Kong Business Environment SWOT
- Global Autos Update: End Of First Quarter Brings Both Positive And Negative Revisions As Key Trends
- Table: Passenger Car Sales (Units), Jan-March 2012
Industry Risk/Reward Ratings
- Table: Business Environment Ratings - Autos Industry Asia Pacific
- Honda May Have Breakthrough In Reducing Rare Earth Reliance
Macroeconomic Forecast Scenario
- Table: Hong Kong - Economic Activity, 2011-2016
Industry Forecast Scenario
- Sales [Query - production - please reinsert table]
- Table: Hong Kong Automotive Sales
- Table: Hong Kong Auto Sector - Economic Contribution
- Market Overview
- Industry News
- Asia Key To Delphi Post-Bankruptcy Growth But Not Without Competition
- Crown Motors
- Mercedes-Benz Hong Kong
- Sime Darby China
Country Snapshot - Hong Kong Demographic Data
- Table: Hong Kong's Population By Age Group, 1990-2020 ('000)
- Table: Hong Kong's Population By Age Group, 1990-2020 (% of total)
- Table: Hong Kong's Key Population Ratios, 1990-2020
- Table: Hong Kong's Rural And Urban Population, 1990-2020
- How We Generate Our Industry Forecasts
About Business Monitor International
Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010
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