Spain Autos Report Q1 2015 - New Market Report

BMI forecasts a 20.0% increase in vehicle sales in 2014 coming from an expected 18% increase in the passenger car segment and 32.0% rise in commercial vehicle (CV) sales. We expect growth to slow steadily in 2015 to 6.3% as higher base effects from a strong 2014 take hold.

BMI forecast 18% growth in passenger car sales in 2014 on the back of the extension of the vehicle scrappage scheme (PIVE). We believe ongoing government support the the PIVE subsidy program and improving consumption metrics will ensure strong sales continue into 2015 and forecast a growth of 6.3% for the passenger car segment that year.

BMI forecast 33% growth in the light commercial vehicle (LCV) segment and 25% growth in heavy truck sales in 2014. Over 2015, we forecast LCV sales to slow to a 7.0% expansion and for heavy trucks to expand by a more modest 1.8% as modest upticks in manufacturing and construction boost demand.

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BMI forecasts vehicle production in Spain to increase 10.4% in 2014. This comes from a projected 6% increase in passenger car output over the year and a 29.3% increase in CV production.

Spanish autos production is dominated by exports. According to data from the Spanish autos association ANFAC, the value of the country's vehicle exports increased some 15% in 2013, to EUR26.2bn (USD36.1bn). This attests to BMI's view that autos production in Spain is becoming increasingly export-orientated. Exports have continued to grow in 2014 and we believe expanding trade will carry this year's recovery in Spain's autos sector through to 2015.

The Spain Autos Report features the latest data and forecasts covering production, sales, imports and exports.

Business Monitor International (BMI)'s Spain 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 Spain.

Key Benefits

* Benchmark BMI's independent automotives industry forecasts on Spain to test other views - a key input for successful budgetary and planning in the Spanish automotives market.
* Target business opportunities and risks in the Spanish automotives sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Spain.
* 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

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