Estonia Autos Report 2016 - Business Monitor International - Industry Reports

Estonia Autos Report 2016

Estonia Autos Report 2016 - Business Monitor International - Industry Reports
Estonia Autos Report 2016
Published Nov 14, 2015
34 pages — Published Nov 14, 2015
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Abstract:

...This makes for a total new vehicle sales market of some --,--- units. ...Private consumption represents a key indicator of the potential demand for new vehicles within Estonia. Moreover, against a backdrop of very low inflation across the eurozone, the European Central Bank (ECB) looks set to keep interest rates at very low levels, which should see a continuation of attractive auto financing deals as we move into ---- and act as a support to Estonian new vehicle demand over the near term. Over BMI s full ------- forecast period, we are currently forecasting further growth, in the order of -- for Estonian new vehicle sales. This should take new vehicle sales to around the --,--- unit mark, with the market set to surpass its previous ---- peak (of --,--- units) during ----. We are anticipating PC sales (+--.- ) to outperform CV sales (+--.- ), as consumers feel the effect of a strengthening domestic economy.

...BMI View: We believe that a combination of a recovering economy and greater investment in fleet renewal from business will lead to further growth for the Estonian new vehicle sales market in ----. We are targeting almost -- growth for the sector as a whole, with commercial vehicles set to outperform passenger cars. ...Used cars continue to account for the lion s share of cars purchased within Estonia, with new cars representing just -- of the total number of cars that were registered for the first time in Estonia during the month of September ----. However, with Estonia s car fleet having an average age of --.- years (as of ----), this underlines the potential for strong new car sales growth over the medium term as Estonia s economy regains strength and local consumers start to feel the wealth effect of this economic expansion. Sales of electric vehicles have collapsed following the end of state subsidies, with the outlook for this sub-segment now highly uncertain as the government looks instead to prioritise biogas as its main alternative fuel. ...However, with Estonia s car fleet having an average age of --.- years (as of ----), this underlines the potential for strong new car sales growth over the medium term as Estonia s economy regains strength and local consumers start to feel the wealth effect of this economic expansion. Sales of electric vehicles have collapsed following the end of state subsidies, with the outlook for this sub-segment now highly uncertain as the government looks instead to prioritise biogas as its main alternative fuel.

...We are becoming more optimistic on the medium-term outlook for Estonian new vehicle sales, following a period of restricted growth. For ----, we are forecasting a strong increase in new vehicle sales growth, as the economy grows and local businesses have more money to invest in fleet renewal. ...For ----, we are forecasting a strong increase in new vehicle sales growth, as the economy grows and local businesses have more money to invest in fleet renewal. We are expecting commercial vehicles or CVs (+--.- ) to outperform passenger cars or PCs (+- ), although passenger cars will continue to account for the majority (-- ) of the total new vehicle sales market. Estonia s local production industry will remain largely oriented towards specialist component manufacturing, rather than full vehicle assembly. ...

  
Source:
Document ID
1748-9881
Country
Industry
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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. "Estonia Autos Report 2016" Nov 14, 2015. Alacra Store. Dec 05, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Estonia-Autos-Report-2016-2026-156>
  
APA:
Business Monitor International - Industry Reports. (2015). Estonia Autos Report 2016 Nov 14, 2015. New York, NY: Alacra Store. Retrieved Dec 05, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Estonia-Autos-Report-2016-2026-156>
  
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