Car Sales Slip 16.5% In October
News: Sales of new car in Slovenia declined 16.5% year-on-year (y-o-y) to 4,285 cars in October, according to the Slovenian Chamber of Commerce (TZS). The number of newly registered cars slipped by 17.8% y-o-y to 3,738 units in October, while sales of van fell by 6% y-o-y to 547 units. The number of newly registered cars and vans fell by 15.3% y-o-y to 47,728 units in 10M12, with car and van sales falling 16.7% y-o-y and 2.5% y-o-y respectively.
BMI View: BMI previously forecasted passenger car sales to increase 5.3% in 2012. In light of new data earlier in the year, and our bearish outlook for consumer demand, we have revised this forecast to a decrease of 12% over the year.