Greece, Hong Kong, Kuwait and Poland Autos Report Q4 2016; New Report Launched

The inability of government to ramp up infrastructure spending as it imposes a strict austerity policy will limit commercial vehicle sales, while the lack of funds available to the consumer due to low wages and capital controls will drag on consumer spending and place downward pressure on passenger vehicle sales. Total vehicle sales will grow to a subdued 85,216 units in 2016, below its 2004 peak level of 315,903 units.

Key Views

• Capital controls will continue to hamper vehicle sales as credit finance remains capped.
• Poor consumer sentiment will continue to hinder passenger vehicle sales beyond our 2016-2020 forecast period.
• Strict austerity measures, a subdued construction industry and a weak consumer outlook will impede vehicle sales.

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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 16.6% in vehicle sales in 2016.

Key Views

• Vehicle sales will contract 16.6% in 2016
• 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 muted construction sector and sluggish exports will lead to a fall in commercial vehicle demand.

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Over the past quarter, we have become increasingly bearish on the short-term outlook for new vehicle sales. We now forecast a 30% fall in sales over 2016, although luxury brands will outperform.

Key Views

• Most Kuwaitis are putting off new vehicle purchases at the current time, given continued low oil prices, a sluggish economy and the likelihood of higher interest rates as we move into 2017.
• This has seen most of the volume carmakers selling in Kuwait see double-digit sales declines over 2016 to date.
• Our view that Kuwait will retain strong demand for luxury cars has been borne out by the relatively strong performance of luxury brands compared to volume marques over 4M16.

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Consumers will remain in a sweet spot of rising employment, low inflation, rising real wages and low interest rates, which will encourage household spending on cars and motorcycles.

Key Views

• Buoyant capital expenditure growth from the private sector and tax incentives will boost corporate purchases of passenger cars and commercial vehicles for private fleets. Consumers will continue to favour leasing arrangements over auto loans when purchasing new cars but the borrowing profile of those choosing auto loans will continue improving.
• Driven by regulation changes, the powered-two wheeler segment will fall by 30.0% in 2016.
• Vehicle production to be buoyed over the next five years by improving export opportunities to Europe and a new high-capacity light commercial vehicle plant coming online in October 2016.
• Passenger car production to lag behind commercial vehicle output growth as Fiat Chrysler Automobiles holds off on utilising unused capacity at its Tychy plant.

For more information Visit at: http://www.marketresearchreports.com/business-monitor-international/poland-autos-report-q4-2016