(MENAFNEditorial)
We forecast Taiwan's auto sales growth for 2014 to come in at 8.7% largely backed by a surge in the commercial vehicle segment. According to the Hong Kong Transport Department (HKTD) auto sales grew by 4.2% year-on-year (y-o-y) in October 2014 a slowdown from the strong 20.8% y-o-y growth seen in the previously month largely due to the pro-democracy protests (also known as the Umbrella Movement) that began in late September. Auto sales grew by 9.4% y-o-y for the period January-October and we expect pro-democracy protests to dampen sales for the remaining months of 2014.
Beyond 2015 we are more positive on the outlook for the passenger car segment underpinned by a de-escalation of the Umbrella Movement and a more positive economic outlook. We also expect some pent-up demand due to a decline in sales in Q414 to spill over into the early part of 2015. As such we forecast passenger car sales for 2015 to come in at 40952 units representing 3.8% growth slightly higher than the 3.5% growth forecast for 2014.
Full Report Details at
- http://www.fastmr.com/prod/924161_hong_kong_autos_report_q1_2015.aspx?afid=101
However growth will largely be underpinned by the commercial vehicle segment which has seen a surge in sales over the past seven months (April-October) since the 'Ex-Gratia Payment' Scheme was implemented n March 2014. The scheme is a more heavy handed approach by the government to phase out some 80000 pre-Euro IV vehicles off the roads over the coming years. In view of a larger number of vehicle owners opting to de-register their older vehicles and replacing them with 'greener' CVs we expect sales momentum seen in 2014 extending into 2015. This is further supported by the various delays in construction projects in 2014 that will spill over into 2015 and this will also provide a boost to the CV segment. Consequently we have revised our 2015 CV sales growth forecast to 24.2% up from 19.3% previously.
Meanwhile the country's efforts at promoting the electric vehicle segment have yet to gain traction and according the Hong Kong's...
The Hong Kong Autos Report features the latest data and forecasts covering production sales imports and exports.
Business Monitor International (BMI)'s Hong Kong Autos Report provides industry professionals and strategists corporate analysts auto associations government departments and regulatory bodies with independent forecasts and competitive intelligence on the automotives market in Hong Kong.
Key Benefits
* Benchmark BMI's independent automotives industry forecasts on Hong Kong to test other views - a key input for successful budgetary and planning in the Hong Kong automotives market.
* Target business opportunities and risks in the Hong Kong automotives sector through our reviews of latest industry trends regulatory changes and major deals projects and investments in Hong Kong.
* Assess the activities and market position of your competitors partners and clients via our Competitive Landscape Analysis.
Coverage
BMI Industry View
Summary of BMI's key industry forecasts and views covering production sales and the introduction of new technology or products.
Global Regional and Country Industry Overviews
In-depth analysis of the major global and regional developments in the market which can be linked with the country industry overview providing cross-country investment product and financing trends that will affect each market supported by BMI’s global and regional industry forecasts.
Business Environment Rankings
BMI's proprietary Autos Business Environment Rankings are a unique country-comparative Risk-Reward Rankings index that separately analyses the risks and rewards of operating in each market. It is aimed at investors (including manufacturers suppliers and dealers) who seek to either identify and compare market opportunities or evaluate country-specific operational challenges.
The rankings methodology makes sophisticated use of over 40 industries economic and demographic data points.
BMI Industry Forecasts
Historic data series and forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions plus analysis of key downside risks to the main forecast including:
Total production value (US$bn); total production of units; production by vehicle-type (including cars commercial vehicles trucks and buses); total sales value (US$bn); sales by vehicle-type including passenger cars and commercial vehicles (vans and microbuses pickups trucks and buses 4 wheel drive); total exports by value (US$bn) and by units; total imports by value (US$bn) and by units; contribution to GDP; employment in industry.
BMI Economic Forecasts
BMI forecasts to end-2018 for all headline macroeconomic indicators including real GDP growth inflation fiscal balance trade balance current account and external debt.
Company Profiles
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles enabling a full evaluation of recent company performance and future growth prospects.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts we provide quick and easy access to the best competitive intelligence available. Our unbiased expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.