IHS Markit analysts are prepping for CES and looking forward to January’s event! To find out who's attending click… https://t.co/jKukc0rVC7
Portuguese passenger car sales fall during September
Portuguese passenger car registrations have fallen during September. According to the latest data published by the Automobile Trade Association of Portugal (Associação do Comércio Automóvel de Portugal: ACAP), demand fell by 14% year on year (y/y) to 12,771 units. This has had some impact on its year-to-date (YTD) growth, which is now up by 6.5% y/y at 182,677 units. However, light commercial vehicle (LCV) registrations have grown by 4.8% y/y to 3,148 units, and they are now up in the YTD by 3.9% y/y to 28,247 units. Outside the light-vehicle categories, medium and heavy commercial vehicle (MHCV) registrations made a strong 17.4% y/y gain to 615 units in September. As a result, the growth rate in the first nine months has now returned to positive growth territory with an increase of just 0.2% y/y to 4,017 units.
Significance: The decline, like most markets in the European Union (EU), has been down to the introduction of the WLTP emissions certification for new passenger cars sold from 1 September. This led to automakers and dealers incentivising NEDC-certified vehicles as well as pre-registering them before the deadline. As well as these factors being a drag on demand in September, some automakers have also struggled to certify some models, which is limiting supply. One of those which is now just starting to meet demand is Volkswagen. However, this is expected to be a temporary blip, according to IHS Markit forecasts. We anticipate that passenger car registrations in this market will end the year at 233,600 units, an increase of 5.1% y/y, which will be followed by another year of growth in 2019. We see LCV production growing by 1.9% y/y to 39,500 units, and a further, larger gain is expected in 2019 as well.
Read more articles like this one. Get a free trial to AutoIntelligence Daily
- Russian light-vehicle sales rise in November
- German passenger car registrations fall in November
- Mexican light-vehicle sales decline 5.4 percent in November
- South Korean OEMsֹ’ global sales decline 5 percent in November
- Key automotive introductions expected at AutoMobility LA 2018
- IHS Markit wins award for its Dealer Network Planning solution
- Malaysia sales and production forecast
- Indonesian new vehicle market grows in October