Party Over For New Vehicles Market

Strong Q311 demand in the Ukrainian new vehicles market has taken the country's cumulative sales between January and September up almost 35%. While the better-than-expected growth has prompted BMI to revise its 2011 sales forecast upwards, we do not expect the market to maintain momentum for the remainder of this year and in 2012. As such, we are limiting our 2011 growth forecast to just over 18% (up from 9%) but have downgraded our 2012 forecast to less than 8% growth compared with the 12.4% growth expected earlier.

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