2013-10-13 11:08:28 - New Transportation research report from Business Monitor International is now available from Fast Market Research
Passenger car sales in Spain declined 3.6% year-on-year (y-o-y) in the first eight months of 2013, to 501,257 units. This follows an 18.3% y-o-y decline in August, to 39,872 units, as the market surged in August 2012. BMI expects the market to continue to decline over the remainder of the year, but we do not expect to see a continuation of the substantial fall in August.
We believe that the general moderation in decline over the year to date represents a 'bounce-back' effect from years of pent-up demand (and delayed purchasing decisions) in the market, rather than a return of consumer confidence. Furthermore, we believe that the government's vehicle scrappage scheme has helped buoy the Spanish market somewhat, but believe its
effect is rather muted due to its limited scope. Therefore, we maintain our forecast of a 4% decline in this segment in 2013.
Full Report Details at
BMI believes the Spanish economy will remain mired in recession, and is likely to endure a further year of negative growth in 2013. Substantial deleveraging pressures in the private sector following the real estate bust will continue to eat into wealth and spending power, pinning down inflationary pressures.
In addition, double-digit unemployment and structural joblessness will worsen, conspiring against any sustainable rise in prices. Furthermore, the government will need to carry out further fiscal austerity measures to get public finances under control. We believe that these pressures will impact construction and industrial activity, key drivers of commercial vehicle (CV) sales. This has partly informed our bearish outlook for sales in this segment.
Report Table of Contents:
BMI Industry View
- BMI Industry View
- Business Environment
- Production, Sales and Trade
- Sales Forecasts and Analysis
- Table: Sales
- Production Forecasts And Analysis
- Table: Production
- Trade Forecasts and Analysis
- Table: Trade Balance, CBUs
- Industry News
- Passenger Cars
- Table: Passenger Car Sales and Production
- Table: Spain Passenger Car Sales By Brand
- Company News
- Commercial Vehicles
- Table: Commercial Vehicle Sales and Production Forecasts
- Table: Spain Light Commercial Vehicle Sales By Brand
- Table: Motorcycle Sales and Production Forecasts
- Macroeconomic Forecasts
- Table: SPAIN - ECONOMIC ACTIVITY
Industry Risk Reward Ratings
- Europe - Risk/Reward Ratings
- Table: Autos Risk Reward Ratings Europe
- Company Monitor
- Regional Overview
Global Industry Overview
- Global Industry Overview
- Demographic Forecast
- Table: Spain's Population By Age Group, 1990-2020 ('000)
- Table: Spain's Population By Age Group, 1990-2020 (% of total)
- Table: Spain's Key Population Ratios, 1990-2020
- Table: Spain's Rural And Urban Population, 1990-2020
- Automobile Industry
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