BMI Downgrades 2011 Production Forecast, Remains Positive Long Term

A 6.7% year-on-year (y-o-y) contraction in Polish autos production to 640,561 units during the first three quarters of 2011 and worsening demand conditions in the key Western European autos markets have prompted BMI to significantly downgrade its overall 2011 production forecast to a 8.5% y-o-y contraction. Although this would make 2011 the third consecutive year of decline in the Polish autos market, BMI remains positive about long-term growth potential in the country's manufacturing segment. We believe Poland's low-cost production base and the current production line-up of small cars from leading European carmakers will help the market return to pre-crisis levels

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