Boston, MA -- (ReleaseWire) -- 01/07/2014 -- In Ukraine, vehicle production declined 39.5% year-on-year (y-o-y) in the first 11 months of the year, to 44,062 units. During this period, passenger car production declined 39.8% y-o-y, to 40,118 units, and commercial vehicle (CV) production dropped 38% y-o-y, to 1,831 units. On the back of output volumes over the year, and our view that many European markets, which are the country's leading trade partners, are bottoming out somewhat, we forecast total vehicle production to fall 39.6% in 2013. This comes from an expected drop of 40% in the passenger car market, and a 35% decline in the CV segment.
This reflects further declines from 2012, when vehicle production in Ukraine fell by 27.1%, to 76,281 units. Over the year, passenger car production declined 28.6%, to 69,687 units, and CV production declined 6.7%, to 6,954 units.
View Full Report Details and Table of Contents
Most of Ukraine's passenger car output is destined for Western Europe, where many markets have bottomed out, and we expect to see a moderation in their sales declines, although many still remain in contractionary territory. CV production has historically been driven by strong export growth, but this dropped off in 2012 as manufacturing activity declined across much of Europe; we expect this segment to remain weak in 2013.
BMI maintains a bearish outlook on private consumption in Ukraine. We expect to see a slight slowdown in consumption over the year, as unemployment continues to increase and real wage growth slows. Further, our expectation for a currency devaluation in H213 also implies a future reduction in household purchasing power.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Transportation research reports at Fast Market Research
You may also be interested in these related reports:
- Russia Autos Report Q1 2014
- Thailand Autos Report Q1 2014
- Serbia Autos Report Q1 2014
- Algeria Autos Report Q1 2014
- Hungary Autos Report Q1 2014
- Italy Autos Report Q1 2014
- China Autos Report Q1 2014
- Indonesia Autos Report Q1 2014
- Australia Autos Report Q1 2014
- Czech Republic Autos Report Q1 2014