Looking at early sales trends for 2015, a total of 58,094 vehicles were sold in Denmark over the first quarter, representing a 5.5% increase year-on-year (y-o-y). Breaking down the headline figure, passenger car sales stood at 49,278 units (+3%) for Q115. LCV sales were up by 17.4%, at 7,595 units. HCV sales were up by 67.5%, at 1,146, with HCV sales units, with bus sales up by 19%, at 75 units. Total CV sales stood at 8,816 units for the first quarter of 2015.
After two disappointing months at the start of the year, March was a particularly strong month for new vehicle sales, which were up by 18.8% y-o-y, at 23, 286 units. On current sales trends, there may some slight upside to our forecasts of 4% growth for the full year. However, we choose to await the release of additional monthly sales data before making any change to our current forecasts.
Overall, however, we retain a constructive view on the medium-term outlook for Danish new car sales,. BMI's Country Risk team has recently become slightly more optimistic on the macroeconomic outlook, targeting an increase in growth from an estimated 1.1% in 2014, to 1.5% in both 2015 and 2016. In particular, we feel that negative interest rates and record low mortgage rates will help to absorb some of the uncertainty stemming from one of the highest private sector debt burdens in Europe. Meanwhile, a firm commitment to the Danish krone's peg to the euro will prevent a more severe decline in goods exports, which have been on a downward trajectory since the second half of 2014.
Denmark's highly open economy remains highly susceptible to major shifts in the regional economic environment, with the European Central Bank's recently announced minimum EUR1.1trn asset purchasing programme carrying the most severe ramifications for the Danish economy. Financial market speculation over the ability of the Danish National Bank to maintain its currency peg to the euro, following the surprise decision by the Swiss National Bank in...
The Denmark Autos Report features the latest data and forecasts covering production, sales, imports and exports.
BMI Research's Denmark Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the automotives market in Denmark.
- Benchmark BMI's independent automotives industry forecasts on Denmark to test other views - a key input for successful budgetary and planning in the Danish automotives market.
- Target business opportunities and risks in the Danish automotives sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Denmark.
- Assess the activities and market position of your competitors, partners and clients via our Competitive Landscape Analysis.
BMI Industry View
Summary of BMI’s key industry forecasts and views, covering production, sales and the introduction of new technology or products.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the autos sector and within the broader political, economic and business environment.
BMI Industry Forecasts
Historic data series and forecasts to end- 2019 for all key industry indicators (see list below), supported by explicit assumptions plus analysis of key downside risks to the main forecast, including:
Sales and production of motorcycles in units; total production of units; production by vehicle type (including cars, commercial vehicles, trucks and buses); total vehicle fleet size in units; sales by vehicle type, including passenger cars and commercial vehicles; fleet size by vehicle type, including passenger car, commercial vehicles and motorcycles; total vehicle trade balance in units; vehicle trade balance by vehicle type, including passenger car, commercial vehicle and motorcycle; car ownership measured as car density per 1,000 people.
BMI’s Autos Risk Reward Index
BMI’s Risk Reward Index provides investors (manufacturers, suppliers and dealers) looking for opportunities in the region with a clear country-comparative assessment of a market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points. These provide indices of highest to lowest appeal to investors, with each indices explained.
BMI Economic Forecasts
BMI forecasts to end-2019 for all headline macroeconomic indicators, including real GDP growth, inflation, fiscal balance, trade balance, current account and external debt.
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.
Global, Regional and Country Industry Overviews
In-depth analysis of the major global and regional developments in the market, which can be linked with the country industry overview, providing cross-country investment, product and financing trends that will affect each market, supported by BMI’s global and regional industry forecasts.
The Autos reports draw on an extensive network of primary sources, such as manufacturing associations, statistical bureaus, government transport ministries, national chambers of commerce and industry, national statistical offices, government ministries and central banks and multinational companies.
*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.