BMI forecasts an 11.9% increase in vehicle sales in 2014. This comes from an expected 9% increase in the passenger car segment and 29.3% rise in commercial vehicle (CV) sales.
BMI forecast 9% growth in passenger car sales in 2014 on the back of the extension of the vehicle scrappage scheme buoying sentiment and pent-up demand from sustained declines in recent years, despite the country's weak consumer story dampening demand for big ticket purchases.
BMI forecast 30% growth in the LCV segment and 25% growth in heavy truck sales in 2014. We expect the country's construction and manufacturing sectors to remain lacklustre, but we believe that pent-up demand in the segment will help buoy the sector over the year.
BMI forecasts vehicle production in Spain to increase 8.6% in 2014. This comes from an expected 6% increase in passenger car output over the year and a 20% increase in CV production.
Spanish autos production is dominated by exports. Indeed, 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, and we believe this segment will lead the recovery in the country's autos sector in 2014. Indeed, we expect to see a resurgence in Spanish output on the back of strong fundamentals and improving vehicle sales in Europe, Spain's main export market.
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.
- 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.
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
In-depth analysis of the major global and regional developments in the market, which can be linked with the country industry overview, providing cross-country investment, product and financing trends that will affect each market, supported by BMI’s global and regional industry forecasts.
Business Environment Rankings
BMI's proprietary Autos Business Environment Rankings are a unique country-comparative Risk-Reward Rankings index that separately analyses the risks and rewards of operating in each market. It is aimed at investors (including manufacturers, suppliers and dealers) who seek to either identify and compare market opportunities, or evaluate country-specific operational challenges.
The rankings methodology makes sophisticated use of over 40 industries, economic and demographic data points.
BMI Industry Forecasts
Historic data series and forecasts to end-2018 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
Total production value (US$bn); total production of units; production by vehicle-type (including cars, commercial vehicles, trucks and buses); total sales value (US$bn); sales by vehicle-type, including passenger cars and commercial vehicles (vans and microbuses, pickups, trucks and buses, 4 wheel drive); total exports by value (US$bn) and by units; total imports by value (US$bn) and by units; contribution to GDP; employment in industry.
BMI Economic Forecasts
BMI forecasts to end-2018 for all headline macroeconomic indicators, including real GDP growth, inflation, fiscal balance, trade balance, current account and external debt.
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.