New Transportation research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 08/15/2013 -- In the first four months of 2013, passenger car sales in Poland declined 1.6% year-on-year (y-o-y), to 100,165 units. In 2013, BMI forecasts a decline of 1.0% in this segment, predicated on our generally bearish outlook for private consumption.
In 2012, passenger car sales in Poland decreased 2.5%, to 312,096 units. This is a slightly more bearish result than BMI's original forecast of a 2.0% decline in the year. Indeed, over the course of 2012, household spending contracted, real wages stagnated, and unemployment crept up slightly. The effect of this on passenger car sales was more pronounced than we had envisaged.
In 2013, we expect an uptick in real private consumption growth, although we believe that this is likely to remain fairly subdued until mid-2013. Indeed, wage growth is likely to remain tepid even once the economy picks up in H213, given the weakness in the labour market.
Passenger car production in Poland decreased 29.4% y-o-y in the first three months of 2013, to 123,100 units. BMI forecasts a fall of 20% in 2013 on the back of weak output volumes to date and our bearish outlook for European passenger car sales in 2013.
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In 2012, passenger car production in the country declined 26%, to 548,100 units, on the back of the broader weakness in European vehicle demand and the underperformance of Fiat in the region. We expect these dynamics to continue to play out in 2013.
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