Industry Trend Analysis - Consumer Confidence Spurring Car Sales Revision - APR 2017
BMI View: We are revising up our passenger car sales forecast for 2017 Austria to 5.0% from 3.0% previously. A faster than expected rise in consumer confidence is the main cause for the revision for 2017 while a rise in job vacancies has spurred us to marginally revise up our forecast for the 2018-2021 period as well.
After our quarterly review of Austria's outlook, we are revising up our 2017 passenger car sales forecast to 5.0% from 3.0% previously. We maintain that the market will still be supported by the same market drivers that we have outlined before, namely: Rising asset prices, tax reforms allowing for a rise in discretionary spending and cheap leasing deals ( see ' Tax Reforms And Cheap Leasing Still Spurring Growth ' , October 24 2016). However, we are revising up our forecast for 2017 following a stronger than expected rise in consumer confidence due to these factors.
Confidence Is Key
|Outlook Improving In 2017|
|Austria - Passenger Car Sales Forecasts, % chg y-o-y|