In the first four months of 2013, vehicle sales in Italy declined 13.8% year-on-year (y-o-y), to 383,786 units. BMI forecasts a decline of 10.4% in the market over the full year. Passenger car sales declined 12.3% y-o-y in 4M13, to 471,750 units. In April, sales in this segment declined 10.8% y-o-y, to 116,209 units, which is broadly in line with the rate of decline in the market over the yearto- date. BMI believes that private consumption will continue to contract in 2013 as Italian households are hit by ongoing austerity measures, including higher taxes and cuts in social spending.
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