New Transportation research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 10/03/2013 -- Our general view for the Czech auto sector in 2013 is bleak, largely on the back of our belief that private consumption will remain subdued. Results for the year so far bear this out, with the heavier commercial vehicle (CV) segments outperforming the passenger and light commercial vehicle segments.
We hold a bearish outlook on private consumption in the country, although there are signs that this is starting to pick up modestly. We have long maintained that the decline in passenger car sales will therefore moderate somewhat in the second half of 2013 on the back of weaker base effects and improved market sentiment. This is beginning to play out. Accordingly, we maintain our forecast for an 8% decline in passenger car sales in 2013.
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We expect a relatively brighter picture for CVs in 2013 in line with our view that investment spending will gradually increase throughout the year. Moreover, the total CV market is still struggling to return to its preglobal financial crisis levels, leaving a certain amount of room for pent-up demand. We forecast a contraction of 4.1% for the total CV market, led by a 3.0% increase in bus sales, although this will still leave the bus segment below 2011 levels.
In terms of production, light vehicle output was hit by the news that the Toyota Peugeot Citroen Automobile (TPCA) plant saw a drop of 20% in productivity y-o-y in 2012 to 215,000 as a result of weak demand in Europe. Radek Knava, a spokesperson for the TPCA plant, believes the economic situation will most likely result in a further drop in 2013.
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