Just Released: "Greece Autos Report Q1 2013"
BMI has become increasingly bearish on passenger car sales in Greece. In 2012, we forecast a sales decline of 40%. Unemployment remains very high, and retail sales continue to fall. Coupled with continuing austerity measures and political uncertainty, we expect consumer sentiment to remain very weak. This outlook has partly informed our forecast in the passenger car segment. We caution, however, that downward pressure on consumer sentiment from fiscal retrenchment and other macro factors provides considerable downside risk to our...
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