Recently published research from Business Monitor International, "Algeria Autos Report Q3 2014", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 06/11/2014 -- Early sales trends show that 2014 will be a very challenging year for automakers operating in the Algerian market, in line with BMI's forecasts. In Q114, new vehicle sales were down by nearly 30% year-on-year (y-o-y), to 85,000 units, according to an April 2014 report in El Watan. Auto imports were reportedly down by over 50% in January alone. Even the annual motor show, held in March, failed to provide a lift to sales, with dealerships reportedly having to slash prices in order to gain customers. Underlining the precarious state of the market, the local Libert? newspaper has quoted the President of the ACAA, Abderrezzak Lachachi, as stating that several dealerships will close this year.
The main reason behind the calamitous drop in sales is the fact that many Algerians are looking to rent or buy houses via a national homebuilding scheme being carried out by the Housing Development and Improvement Agency (AADL), which will clearly tie up most of their disposable income in 2014. Other factors weighing on the near-term outlook for automobile sales in Algeria include: rising congestion in major cities, a lack of parking spaces and the rising costs of owning and running a vehicle.
View Full Report Details and Table of Contents
Looking at wider economic trends, BMI's Country Risk team has also become more negative on the near-term macroeconomic outlook for the country, having revised down its 2014 GDP growth forecast from 4.4%, to 3.2%. Indeed, we now feel that the economy will grow below potential over the medium term.
However, while the near-term sales outlook remains bleak, there is more encouraging news on the production front. In this context, Algeria's aim of becoming a major producer of cars and commercial vehicles took another step forward at the end of April 2014, when the Algeria Press Service (APS) reported that Mercedes-Benz had produced its first HCV in Algeria, an Actros model. According to the managing director of Mercedes' local partner SNVI, Hamoud Tazrouti, the company will only be building...
The Algeria Autos Report features the latest data and forecasts covering production, sales, imports and exports.
Business Monitor International (BMI)'s Algeria Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the automotives market in Algeria.
- Benchmark BMI's independent automotives industry forecasts on Algeria to test other views - a key input for successful budgetary and planning in the Algerian automotives market.
- Target business opportunities and risks in the Algerian automotives sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Algeria.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Transportation research reports at Fast Market Research
You may also be interested in these related reports:
- Mexico Autos Report Q3 2014
- Indonesia Autos Report Q3 2014
- China Autos Report Q3 2014
- Japan Autos Report Q3 2014
- Vietnam Autos Report Q3 2014
- France Autos Report Q3 2014
- Pakistan Autos Report Q3 2014
- Argentina Autos Report Q3 2014
- Qatar Autos Report Q3 2014
- Germany Autos Report Q3 2014