In the first four months of 2013, passenger car sales in Poland declined 1.6% year-on-year (y-o-y), to 100,165 units. In 2013, BMI forecasts a decline of 1.0% in this segment, predicated on our generally bearish outlook for private consumption. In 2012, passenger car sales in Poland decreased 2.5%, to 312,096 units. This is a slightly more bearish result than BMI’s original forecast of a 2.0% decline in the year. Indeed, over the course of 2012, household spending contracted, real wages stagnated, and unemployment crept up slightly. The effect of this on passenger car sales was more pronounced than we had …
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