DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/aa6f84/spain_autos_report) has announced the addition of the "Spain Autos Report Q1 2011" report to their offering.
The Spain Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Spain's automotive industry.
Despite its austerity plan, the Spanish government has poured in an additional EUR168mn towards subsidising electric vehicle (EVs) development in the country. The current funding is in addition to the EUR590mn earmarked by the government in March 2010, as a part of its broader aim of bringing at least 250,000 electric and hybrid vehicles on roads nationwide by 2014. The top-up clearly shows the Spanish government's commitment towards mass vehicle electrification, but BMI fear it could be pushing an immature market too early and too hard.
The authors concerns are centred around the weak state of consumer demand for autos on the whole and towards EV in particular. 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% y-o-y in 2010. In 2011, BMI expect Spain's economic recovery to weaken further, owing to the onset of government austerity policies, higher taxes on consumption and a slowdown in global growth, resulting in a further 2% y-o-y fall in sales in 2011. BMI expect sales to return to growth thereafter, growing an average of 2.6% y-o-y between 2012 and 2015, but this will not be enough to ensure a recovery to 2005 levels, or even the 2008 level (the first year of the global economic crisis).
Key Topics Covered:
- Executive Summary
- SWOT Analysis
- Global Overview
- Business Environment Ratings
- Industry Developments Western Europe
- Industry Overview
- Industry Forecast Scenario
- Competitive Landscape
- Company Profiles
- Country Snapshot: Spain Demographic Data
For more information visit http://www.researchandmarkets.com/research/aa6f84/spain_autos_report