New Transportation research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 12/20/2013 -- We forecast a 4.3% decline in vehicle sales in 2013 due to a 4% drop in the passenger car segment, and 7.7% fall in CV sales. In 2014, BMI forecasts a decline of 1.8% as passenger car sales fall 1.7%, and the CV segment sees a drop of 2.9%.
A number of auto companies continue to offer large discounts and offers to potential consumers. This served to buoy sales in 2012 somewhat (moderating the decline, certainly), and is expected to have a similar effect in 2013. Such practices are prevalent across a number of European countries as car makers attempt to boost sales.
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BMI forecasts a 0.2% increase in vehicle production in 2013, on the back of an expected 1% increase in passenger car production over the year and an 8.9% drop in commercial vehicle (CV) output. In 2014, we expect to see a 1.9% increase in vehicle production as car output increases 2% and CV manufacturing increases 0.7%.
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