Market Poised For Fifth Year Of Falling Sales, And Slow Recovery From 2012

Four consecutive months of falling new passenger car sales, between July and October 2010, have reaffirmed BMI's forecast that the Spanish new vehicles market is poised for a contraction of nearly 7% year-on-year in 2010. This is a sharp reversal from the nearly 40% y-o-y growth in H110, and supports BMI's long-standing concerns about weak consumer spending and the long-term unemployment rate preventing recovery in the new vehicles market. We expect this contraction to continue well into 2011, marking it as the fifth consecutive year of falling auto sales in the market.

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