Recently published research from Business Monitor International, "United Kingdom Autos Report Q4 2012", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 01/02/2013 -- We are becoming increasingly bullish on the automotive sector in the UK, with signs of a return to growth in both vehicle sales and production. This has facilitated growth in the supplier segment too, with substantial investment across the supply chain. Further, we have seen the UK increasingly becoming an export hub for many auto manufacturers; BMI believes that the country has a fairly attractive business environment owing to the ease of doing business, strong economic and political institutions, and openness to foreign capital. The labour market is also fairly flexible and property rights strongly enforced. We maintain a bullish outlook for the sector over our 2016-forecast period.
There are signs of a resurgence in the passenger car market in 2012, after years of decline. In the first eight months of 2012 passenger car sales in the UK increased 3.3% year-on-year (y-o-y), to 1,260,997 units. In light of these figures and the economic picture for the country, we revised up our 2012 passenger car sales forecast from a 0.6% rise, to a more bullish 3% increase.
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In the first eight months of the year, sales of light commercial vehicles (LCVs), declined 6.8% y-o-y, and sales of trucks increased 14.1% y-o-y. We believe that LCV will decline 5%, and heavy truck sales will increase 15% in 2012.
Vehicle production in the country increased 11.2% y-o-y in the first eight months of 2012. Passenger car production increased 12.7% y-o-y, and commercial vehicle (CV) production decreased 5.6% y-o-y in this period. BMI has maintained a bullish outlook on vehicle production in the UK for 2012. We forecast a 12% increase in vehicle production in 2012, with a 14% increase in passenger production and a 9.6% decrease in CV production. Our bullish outlook is continuing to play out, and we maintain these forecasts for now.
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