(MENAFNEditorial)
BMI holds a bullish outlook for the UK passenger car market going into 2015 on the back of improving consumer sentiment and pent-up demand in the market from a period of sustained declines. We forecast 5.6% growth in vehicle sales off the back of increases of 5.2% and 8.3% in the passenger car and commercial vehicle segments respectively.
In the first 11 months of 2014 passenger car sales increased 9.4% on the back of improvements in private consumption cheaper access to credit and pent-up demand. In 2015 we forecast sales growth to reach 5.2% as consumer confidence continues to build but higher base effects taper sales growth somewhat. Furthermore our country risk team continues to highlight that business confidence and fixed investment remain somewhat fickle but a modest resurgence in these indicators could help boost sales from companies and fleet purchases. This provides upside risk to our bullish forecast.
BMI forecasts a 8.3% increase in UK commercial vehicle (CV) sales in 2015. Over 2014 sales of light commercial vehicles (LCVs) have driven CV sales up. We see this trend continuing over 2015 as a continued boom in private consumption expands demand for LCVs further. We also forecast heavy truck sales to normalise after market regulation changes in 2013 and 2014 destabilised the market considerably. BMI maintains a modest forecast of 2.6% growth in vehicle production in the UK in 2015. This view has been informed by our positive outlook for the domestic passenger car segment and our expectation of a slight recovery in export demand despite ongoing sales declines in Russia. We expect commercial vehicle production to outperform over the year and forecast a 10.9% increase in CV output. However CVs constitute a relatively small proportion of total vehicle output.
Full Report Details at
- http://www.fastmr.com/prod/938380_united_kingdom_autos_report_q1_2015.aspx?afid=101
The United Kingdom Autos Report features the latest data and forecasts covering production sales imports and exports.
Business Monitor International (BMI)'s United Kingdom 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 United Kingdom.
Key Benefits
* Benchmark BMI's independent automotives industry forecasts on United Kingdom to test other views - a key input for successful budgetary and planning in the British automotives market.
* Target business opportunities and risks in the British automotives sector through our reviews of latest industry trends regulatory changes and major deals projects and investments in United Kingdom.
* 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.
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