2014-01-05 00:32:09 - New Transportation research report from Business Monitor International is now available from Fast Market Research
In terms of sales volumes, the Greek vehicle market stands at less than half the levels seen in 2007. With consumers feeling the pinch of higher taxes and high vehicle ownership costs, we believe that a recovery in new vehicle sales unlikely during our forecast period to 2017. It is therefore not surprising that local dealerships are being forced to slash vehicle prices and offer substantial discounts in an attempt to spur demand in the market.
In addition to soaring unemployment, there are a number of factors holding back vehicle purchases in Greece. The latest economic data show the economic depression continuing to deepen. Additionally, poverty levels in Greece are rising; with falling incomes and lack of job security for those
employed, consumers are holding back on big spending. Meanwhile, a hike in road tax from 9% in 2011 to 12% in 2012, coupled with an exponential increase in gas prices, has resulted in existing car owners surrendering their licence plates with the aim of avoiding the rising cost of vehicle ownership.
Full Report Details at
A lack of demand is prompting Greek dealerships to offer greater benefits to vehicle owners looking to trade in their older vehicles for a new replacement, such as six-month free insurance and payment of annual road tax. Local news sources also report that weak economic activity has prompted Greek leasing companies with large fleets to sell off their vehicles to foreign buyers, mainly from Belgium.
Report Table of Contents:
BMI Industry View
- Business Environment
- Table: Greece Vehicle Sales Data And Forecasts
- Passenger Cars
- Table: Passenger Car Sales, 2011-2017
- Table: Greece Monthly Passenger Car Sales
- Commercial Vehicles
- Table: Commercial Vehicle Sales, 2010-2017
- Table: Greece LCV Sales By Brand
- Table: Motorcycle Sales, 2011-2017
- Economic Analysis
- Table: GREECE - ECONOMIC ACTIVITY
Industry Risk Reward Ratings
- Europe Risk/Reward Ratings
- Table: Europe Risk/Reward Ratings
- Company Monitor
- Table: Opel's Production Sites
- Europe Regional Overview
Global Industry Overview
- Demographic Outlook
- Table: Greece's Population By Age Group, 1990-2020 ('000)
- Table: Greece's Population By Age Group, 1990-2020 (% of total)
- Table: Greece's Key Population Ratios, 1990-2020
- Table: Greece's Rural And Urban Population, 1990-2020
- Industry Forecasts
- Sector-Specific Methodology
- Risk/Reward Ratings Methodology
- Table: Automotive Risk/Reward Ratings Indicators And Weighting Of Indicators
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