New Transportation research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 06/03/2013 -- In January 2013, passenger car sales in Italy declined 17.6% year-on-year (y-o-y), to 113,525 units. BMI forecasts a decline of 7.8% in 2013 on the back of an ongoing decline in private consumption. We maintain this forecast for now as we expect the market to moderate somewhat over the course of the year. Further, sales volumes in the first half of 2012 were larger than in the second half, so the large decline witnessed in January is unlikely to be sustained throughout the year.
In 2012, passenger car sales in Italy declined 19.8%, to 1,402,905 units. We believe that this reflects the country's weak consumer story. BMI believes that private consumption will continue to contract in 2013 as Italian households are hit by ongoing austerity measures, including higher taxes and cuts in social spending. Further, unemployment will continue to weigh on consumption.
BMI believes that Italy's labour market still remains relatively uncompetitive and rigid, and production will continue to be uncompetitive.
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