Europe Autos Report - Business Monitor International - Industry Reports

Europe Autos Report

Europe Autos Report - Business Monitor International - Industry Reports
Europe Autos Report
Published Oct 08, 2016
30 pages — Published Oct 08, 2016
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Abstract:

BMI View: Sales of new vehicles in the EU will be negatively impacted by the UK s decision to leave the EU and this informs our lower EU vehicle sales growth forecast for ---- and ----. The channels through which sales will be most affected are through Brexit s damaging effects on tourism-reliant car rental companies and on consumer confidence across the region. ...This is reflected in our slower vehicle sales growth of -.- for the EU region (excluding the UK) in ----, compared to the --.- y-o-y growth in the region over H---, and our slower -.- forecasted sales growth rate in ----. Rental car fleet operators in European countries with high UK tourist arrivals will be forced to revise down their planned purchases in light of slowing tourist arrivals and, therefore, slowing growth in rental car customer spending. The European Central Bank s (ECB) looser post-Brexit monetary policy will also not provide significant support to sales growth given that the benefit of lower interest rates will be outweighed by weakening consumer confidence. ...Rental car fleet operators in European countries with high UK tourist arrivals will be forced to revise down their planned purchases in light of slowing tourist arrivals and, therefore, slowing growth in rental car customer spending. The European Central Bank s (ECB) looser post-Brexit monetary policy will also not provide significant support to sales growth given that the benefit of lower interest rates will be outweighed by weakening consumer confidence.

...As we highlighted back in mid-----, the CEE region s consumers will remain in a spending sweet spot that will boost spending on vehicles to new highs (see CEE To Become An Oasis For Car Sales , August -- ----). Rising employment, rising wages, a low interest rate environment and low household indebtedness are all combining to encourage spending on new big-ticket items. ...Rising employment, rising wages, a low interest rate environment and low household indebtedness are all combining to encourage spending on new big-ticket items. This narrative has played out most strongly in the Czech Republic and Romania where spending has been boosted particularly by rising applications of auto loans (see Borrowing And Replacement Will Spur Sales Growth , June -). In Poland, rising sales have not been met with a rise in auto loans as seen elsewhere in the CEE due to the higher attractiveness of leasing in the country but it should still be noted that the broader five-year trend of falling auto loans has begun to reverse (see Fall In Auto Loans Masks Promising Surge In Demand , May --). ...This narrative has played out most strongly in the Czech Republic and Romania where spending has been boosted particularly by rising applications of auto loans (see Borrowing And Replacement Will Spur Sales Growth , June -). In Poland, rising sales have not been met with a rise in auto loans as seen elsewhere in the CEE due to the higher attractiveness of leasing in the country but it should still be noted that the broader five-year trend of falling auto loans has begun to reverse (see Fall In Auto Loans Masks Promising Surge In Demand , May --).

...Building on the sales recovery momentum it generated in ----, Europe s vehicle sales will continue to grow by -.- in ---- and -.- in ----. Europe s recovery remains robust and founded on a strong macroeconomic basis. ...

  
Source:
Document ID
2398-0974
Industry
Format:
PDF Adobe Acrobat
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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. "Europe Autos Report" Oct 08, 2016. Alacra Store. Dec 05, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Europe-Autos-Report-2026-1981>
  
APA:
Business Monitor International - Industry Reports. (2016). Europe Autos Report Oct 08, 2016. New York, NY: Alacra Store. Retrieved Dec 05, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Europe-Autos-Report-2026-1981>
  
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