New Market Report Now Available: Romania Autos Report Q2 2014

From: Fast Market Research, Inc.
Published: Wed Mar 26 2014

In 2014, we forecast a 4.7% increase in vehicle sales in 2014. BMI forecasts a 4.6% increase in passenger car sales in 2014, chiefly on the back of low base effects from substantial declines in 2013, and pent-up demand from several years of sustained declines in the market and delayed purchasing decisions. As the monthly chart shows, sales volumes in the country were erratic over the year, and the market experienced both strong increases and decreases- we attribute this sharp January sales increase to low base effects, but believe the growth rate will temper somewhat over the year.

BMI maintains a bearish outlook for business and manufacturing growth in Romania. Weakening access to credit for many businesses has led to a reduction in investment opportunities for firms over the short term, which we believe has served to somewhat moderate commercial vehicle sales. Moreover, ongoing austerity measures from the government have delayed large construction and manufacturing projects, usually key drivers of sales growth in the commercial vehicle (CV) segment. In 2014, we forecast a 3.1% increase in LCV sales due to pent-up demand in the market, low base effects from weak 2013 sales, and our expectation for a modest uptick in construction activity. These dynamics have also partly informed our forecast for a 10.1% increase in the heavy truck segment over the year.

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