Report Published: "Slovakia Autos Report Q1 2015"

From: Fast Market Research, Inc.
Published: Mon Jan 26 2015


Vehicle sales in Slovakia decreased 3.8% in 2013, on the back of weakness in the passenger car and commercial vehicle (CV) segments. In 2014, we forecast an upswing in total sales of 9.4% as the economy recovers somewhat ; in 2015, we forecast growth of 3.6% as these improvements continue .

BMI maintains a bullish view for private consumption growth in the country in 2014; economic conditions are in the 'sweet spot' for households, as labour market conditions are improving while inflation and interest rates remain very low. This has bolstered real wage growth and consumer confidence, coinciding with a sustained uptrend in retail sales volume. We expect this to continue to drive passenger car sales growth, and we forecast a 9% increase in this segment in 2014, and 3.5% growth in 2015.

Full Report Details at
- http://www.fastmr.com/prod/951132_slovakia_autos_report_q1_2015.aspx?afid=301

In 2014, BMI forecasts an increase of 8.2% in light commercial vehicle (LCV) sales and a 15% surge in the heavy truck segment. Despite these relatively bullish forecasts, BMI believes that manufacturing and construction activity in the country will continue to slow down somewhat over the course of 2014 on the back of declining domestic demand and contractions in key export markets. Further, we expect business confidence to remain poor. However, growth in the CV market will come from pent-up demand in the market, following sustained declines in recent years. In 2015, we expect growth to temper somewhat, and forecast a 4.2%increase in LCV sales and a 5.3% increase in the heavy truck segment.

BMI believes that passenger car production in Slovakia increased 6.5% in 2013, and we forecast 3.7% growth in 2014, and a 4.6% increase in 2015. This increasing output in Slovakia, and other Central and Eastern European (CEE) states more generally, can be seen in contrast to decreasing production levels in much of Western Europe as auto manufacturers strive to cut costs amid continuing economic uncertainty in the region. BMI believes that the Western European auto market will...

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

Business Monitor International (BMI)'s Slovakia 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 Slovakia.

Key Benefits

* Benchmark BMI's independent automotives industry forecasts on Slovakia to test other views - a key input for successful budgetary and planning in the Slovak automotives market.
* Target business opportunities and risks in the Slovak automotives sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Slovakia.
* Assess the activities and market position of your competitors, partners and clients via our Competitive Landscape Analysis.

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Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
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