Hong Kong Autos Report - Business Monitor International - Industry Reports

Hong Kong Autos Report

Hong Kong Autos Report - Business Monitor International - Industry Reports
Hong Kong Autos Report
Published Sep 10, 2016
31 pages — Published Sep 10, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

< ALACRA META ABSTRACT>BMI View: A muted growth outlook for Hong Kong s economy, underpinned by a slowing Chinese economy and cooling property market, will weaken consumer sentiment, leading to a contraction of --.- in vehicle sales in ----. ...Source: BMI, Hong Kong Department of Transport Key Views Vehicle sales will contract --.- in ---- A muted growth outlook for Hong Kong s economy will lead to a fall in consumer sentiment, translating into less willingness to spend on big-ticket items. The cooling property market will have negative wealth effects on consumers, leading to a fall in spending on new passenger car purchases. ...The cooling property market will have negative wealth effects on consumers, leading to a fall in spending on new passenger car purchases. The muted construction sector and sluggish exports will lead to a fall in commercial vehicle demand.

...Adding to our downbeat view is a plummeting property market, where home prices have dropped --.- from a peak in September ---- through May ----.Housing prices in Hong Kong have stabilised following an aggressive decline dating back to the mid----- peak, but Our Country Risk team believes that there is still plenty of downside left for the market (see chart below). We expect falling property prices to drag on credit creation and have a negative wealth effect on consumers, where a decrease in home prices leads to a fall in consumption due to a perceived decline in wealth. ...Adding to our downbeat view is a plummeting property market, where home prices have dropped --.- from a peak in September ---- through May ----.Housing prices in Hong Kong have stabilised following an aggressive decline dating back to the mid----- peak, but Our Country Risk team believes that there is still plenty of downside left for the market (see chart below). We expect falling property prices to drag on credit creation and have a negative wealth effect on consumers, where a decrease in home prices leads to a fall in consumption due to a perceived decline in wealth. Therefore a decline in property prices would further hurt consumer sentiment and this will have a negative spill-over effect on passenger car demand. ...We expect falling property prices to drag on credit creation and have a negative wealth effect on consumers, where a decrease in home prices leads to a fall in consumption due to a perceived decline in wealth. Therefore a decline in property prices would further hurt consumer sentiment and this will have a negative spill-over effect on passenger car demand.

...We believe growth in Hong Kong s autos market will continue to be dragged down by a muted growth outlook for the city-state s economy, leading to a contraction of --.- in vehicle sales in ----, and an annual average decline of -.- over our forecast period ---------.Over the course of ----, we expect weak consumer sentiment and the negative wealth effects of Hong Kong s cooling property market to lead to a fall in spending on new passenger car purchases, while muted growth in the construction sector and sluggish exports translates into a decline in commercial vehicle (CV) demand. As a result, we forecast a contraction of --.- in passenger car sales in ----, while CV sales will fall --.- . ...

...Despite a surprising strong performance by Hong Kong s economy in Q---, our Country Risk team maintains a downbeat growth outlook for the territory, with real GDP growth forecasts of -.- and -.- for ---- and ---- respectively. While Hong Kong s economy grew -.- y-o-y in Q---, following a slight expansion of -.- in Q---, our Country Risk team expects a slowing Chinese economy and a correction in Hong Kong s property market to act as a drag on economic growth in ---- (see chart below). ...

  
Source:
Document ID
1748-992X
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. "Hong Kong Autos Report" Sep 10, 2016. Alacra Store. Dec 02, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Hong-Kong-Autos-Report-2026-1067>
  
APA:
Business Monitor International - Industry Reports. (2016). Hong Kong Autos Report Sep 10, 2016. New York, NY: Alacra Store. Retrieved Dec 02, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Hong-Kong-Autos-Report-2026-1067>
  
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