PRLog (Press Release)– Mar 24, 2011– A reduction in the number of Certificates of Entitlement (COE) available for vehicle purchases in 2010 has inevitably led to a marked decline in vehicle sales and also pushed up prices. With COE prices expected to rise further before another anticipated cut in availability early in 2011, BMI had already revised sales forecasts for most vehicle segments down for 2010. The small car segment has been hardest hit by the soaring COE prices, as the certificates take up a large proportion of the overall purchase price. This was reflected in year-end sales, with a decline of 44% year-on-year (y-o-y).
We forecast average segment growth of 11% for 2011-2015, although this would still leave the segment far below the 2009 level, which was itself the aston martin lowest since 2003, when Motor Transport Association (MTA) records began. Average growth of 5.5% is forecast for the larger car segment over the five-year period cadillac , but company data are showing that higher COE prices are playing into the hands of premium carmakers as it is the more affluent consumers who can absorb the higher costs.
Toyota and Lexus total vehicle sales were down 60.54%, which took their market share down to 11.35%. However, after a see-saw battle throughout the year, BMW pipped Mercedes-Benz by just three units to return to second place with growth of 19.92% and a market share of 7.72%. Mercedes recorded growth of 17. bmw 71% to take its market share to 7.71%.
The motorcycle segment is also benefiting from the higher COE prices, which are forcing consumers back to cheaper forms of transport. The hike in motorcycle C audi OE costs has also been far lower than other categories. Although segment sales are down y-o-y, it was far less pronounced than the four-wheel segments, ending 2010 with a decline of just 6.78%. However, the motorcycle segment is at a disadvantage, as the 25% of COEs transferred to the Open category (which can be used for any vehicle segment) when vehicles are de-registered will be too expensive to warrant using them to buy a bike.
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