Boston, MA -- (SBWIRE) -- 06/24/2013 -- In the first four months of 2013, passenger car sales in Germany declined 8.5% year-on-year (y-o-y), to 958,500 units. BMI forecasts a decrease of 10.0% in passenger car sales over the year. We maintain a bearish outlook for consumer sentiment in the country. Indeed, BMI expects ongoing deterioration in the German labour market, combined with weakness in the euro, to cause private consumption in the country to remain subdued in 2013. We believe that this will serve to moderate passenger car sales growth somewhat, and has informed our sales forecast.

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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