Record Car Sales Prompt Industry To Revise Forecast in Line With BMI View

The Federal Chamber of Automotive Industries (FCAI) has revised its forecast upwards following record vehicle sales in June. It is projecting sales in the region of 980,000 units, which is much closer to BMI's forecast of around 978,000 vehicles. However, while the auto sector has been outperforming other retail industries, our forecast for full-year growth of 4% following a 16.7% rise in H1 takes into account the effect of possible further interest rate hikes in the second half of the year, particularly as private buyers are now driving market growth after the withdrawal of incentives for business purchases.

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