Market Report, "Greece Autos Report Q4 2012", Published
With Greece in its fifth year of depression, unemployment soaring to 23.1% (as of May), and vehicle ownership costs increasing, BMI sees little scope for any rebound in new vehicle sales in the country. A cumulative 41% year-on-year (y-o-y) decrease in new car sales during H112 has prompted us to revise down our forecast for passenger car sales in 2012. We now expect a 40% contraction (from a previous forecast for a 23.8% contraction).
View full press release