United Kingdom Autos Report Q1 2015 - New Study Released

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.

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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.

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

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