Angola Autos Report - Business Monitor International - Industry Reports

Angola Autos Report

Angola Autos Report - Business Monitor International - Industry Reports
Angola Autos Report
Published Aug 06, 2016
25 pages — Published Aug 06, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

In a bid to ease the liquidity crisis in the country, the Banco Nacional de Angola (BNA) has made a series of devaluations to the Angolan kwanza over the past -- months. These currency devaluations have caused inflation to rise to --.- in June ----, from just -.- one year ago (see chart above). ...Furthermore, our Country Risk team forecast the kwanza to end ---- at AOA---/USD, depreciating --.- from an estimated AOA---.--/USD in ----, which will continue to keep inflation high. With Angola lacking a domestic vehicle production and therefore heavily dependent on importing passenger vehicles to meet domestic demand, a weak currency will translate into high import costs , and thus weak demand for both new and used cars. In addition, the removal of fuel subsides will also contribute to high living costs in the country, which will further drag on passenger car demand. ...With Angola lacking a domestic vehicle production and therefore heavily dependent on importing passenger vehicles to meet domestic demand, a weak currency will translate into high import costs , and thus weak demand for both new and used cars. In addition, the removal of fuel subsides will also contribute to high living costs in the country, which will further drag on passenger car demand.

...High domestic fuel prices, on the back of the removal of fuel subsidies, will continue to be a drag on car sales growth in ---- due to the associated increase in vehicle running costs, which will lead consumers to shy away from vehicle purchases. A sharp decline in global oil prices has weighed on the local currency, which fell by more than -- against the US dollar in ----, and put a financial strain on the government s public spending. ...High domestic fuel prices, on the back of the removal of fuel subsidies, will continue to be a drag on car sales growth in ---- due to the associated increase in vehicle running costs, which will lead consumers to shy away from vehicle purchases. A sharp decline in global oil prices has weighed on the local currency, which fell by more than -- against the US dollar in ----, and put a financial strain on the government s public spending. In an effort to ease the financial burden on government coffers, state-owned oil and gas company Sonangol cut fuel subsidies to consumers in early January ----. Following the removal of the subsidies, the price of petrol increased by -- to AOA--- per litre, with diesel increasing -- to AOA--- per litre. On the back of these reforms, our Oil & Gas team expects growth of just -.- in diesel and gasoline consumption in ----, down from estimated growth of -.- in ----, as a result of the increased fuel costs.

...The CV segment will be negatively impacted by a slowdown in the construction sector in ---- as the Angolan government struggles to finance infrastructure development due to a wide fiscal deficit and decreased revenues due to the collapse in oil prices. The construction industry is expected to grow -.- in ----, a slowdown from estimated growth of -.- in ----, as the government s fiscal budget remains in the red owing to low oil prices, thereby diverting funds away from infrastructure projects. ...

  
Source:
Document ID
2047-9352
Country
Industry
Format:
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Angola Autos Report" Aug 06, 2016. Alacra Store. Dec 05, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Angola-Autos-Report-2026-1274>
  
APA:
Business Monitor International - Industry Reports. (2016). Angola Autos Report Aug 06, 2016. New York, NY: Alacra Store. Retrieved Dec 05, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Angola-Autos-Report-2026-1274>
  
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