(MENAFNEditorial)
The new passenger car market rose by 21.6% in May compared with the same period the year before. Since the beginning of 2015 34142 new passenger cars have been registered as compared with 29505 the same period last year. The significant increase in passenger car sales is mainly due to the sharp rise for rental cars as the tourist season has just began.
In 2014 passenger car sales increased 21.3% to 71218 units. BMI attributes this growth over the year to low base effects and pent-up demand in the market following years of sustained declines. The recovery of the country's autos market has continued despite sustained weakness in the country's economy.
The commercial vehicle (CV) market turned negative in May 2015 compared with the same month last year declining 31.4%. Since January 2015 147 units have been registered as compared with 124 the year before suggesting an increase of 18.5%. In May 2015 24 trucks have been sold in total compared with 35 the year before marking a 31.4% decline.
Full Report Details at
-
Light commercial vehicle (LCV) market continued its upward course for fifth consecutive month and rose by 5% compared with May 2014 primarily due to tender sales. Since the beginning of 2015 2897 light trucks have been registered compared with 1861 the same period in 2014 an increase by 55.7%.
In 2014 CV sales increased 40.5%. BMI believes that this respite comes on the back of low base effects from a weak 2013 and pent-up demand from several years of sustained declines. We expect these dynamics to buoy the segment somewhat despite our bearish view on the broader macro picture and this has informed our expectation for sustained growth in total CV sales in 2015. The Greek economy remains depressed with national output far below pre-crisis levels. Record high unemployment fiscal austerity and weak credit growth will weigh on the construction and manufacturing industries in 2015.
The Greece Autos Report features the latest data and forecasts covering production sales imports and exports.
BMI Research's Greece 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 Greece.
Key Benefits
* Benchmark BMI's independent automotives industry forecasts on Greece to test other views - a key input for successful budgetary and planning in the Greek automotives market.
* Target business opportunities and risks in the Greek automotives sector through our reviews of latest industry trends regulatory changes and major deals projects and investments in Greece.
* 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.
Industry SWOT Analysis
Analysis of the major Strengths Weaknesses Opportunities and Threats within the autos sector and within the broader political economic and business environment.
BMI Industry Forecasts
Historic data series and forecasts to end- 2019 for all key industry indicators (see list below) supported by explicit assumptions plus analysis of key downside risks to the main forecast including:Sales and production of motorcycles in units; total production of units; production by vehicle type (including cars commercial vehicles trucks and buses); total vehicle fleet size in units; sales by vehicle type including passenger cars and commercial vehicles; fleet size by vehicle type including passenger car commercial vehicles and motorcycles; total vehicle trade balance in units; vehicle trade balance by vehicle type including passenger car commercial vehicle and motorcycle; car ownership measured as car density per 1000 people.
BMI’s Autos Risk Reward Index
BMI’s Risk Reward Index provides investors (manufacturers suppliers and dealers) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry economic and demographic data points. These provide indices of highest to lowest appeal to investors with each indices explained.
BMI Economic Forecasts
BMI forecasts to end-2019 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.
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.
Sources
The Autos reports draw on an extensive network of primary sources such as manufacturing associations statistical bureaus government transport ministries national chambers of commerce and industry national statistical offices government ministries and central banks and multinational companies.
*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.
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 or call us at 1.800.844.8156 (1.413.485.7001 Int'l)
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.