Boston, MA -- (SBWire) -- 06/15/2013 --Passenger car sales in Poland in January increased 8.8% year-on-year (y-o-y), to 26,421 units. In 2013, BMI forecasts a decline of 1.0% in this segment, predicated on our generally bearish outlook for private consumption. However, we believe this large monthly increase is an anomaly, rather than a sign of a resurgence in private demand.
In 2012, passenger car sales in Poland decreased 1.4%, to 273,589 units. Over the course of 2012, household spending contracted, real wages stagnated, and unemployment crept up slightly.
In 2013, we expect an uptick in real private consumption growth, although we believe that this is likely to remain fairly subdued until mid-2013. Indeed, wage growth is likely to remain tepid even once the economy picks up in H213, given the weak labour market.
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Fast Market Research recommends "Poland Autos Report Q2 2013" from Business Monitor International, now available