Price changes are correlated with the level of remuneration , which companies try to adjust our offer to consumer purchasing power. Results producers shows that customers are buying better and better equipped car.
– In view of the increase in prices stands at around 2 per cent., But on a monthly basis, because in that frequency will publish our index, these changes are very significant. Even in the last month the average price of cars fell by 5 per cent., And in April increased by about 4 percent. As you can see, this variability is large, but you can plan a trend. In the last 3-4 years after a crisis prices rose by about 2 percent. per year – says Artur Tomaszewski, chairman of the board of GNI Bank of Poland.
In 10 years, prices have risen by an average of 68.5 percent. Fluctuations in the prices of individual producers are much larger. Among the eight companies surveyed in May, prices rose most strongly Volkswagen (by 10.9 per cent. Yoy) and Toyota (9.1 percent). Car prices corporations PSA, Renault and Ford grew at a moderate pace 1-2.5 percent. in the case of Opel, Hyundai and Nissan reported a decline in prices (respectively by 5.2, 6.9 and 9.8 percent.).
– We have reliable data since 2004, and we measure the cumulative index for the last 10 years. Also in this horizon we observe interesting trends. Average prices for Hyundai, Kia is mainly increased by 110 percent. , Volkswagen – about 90 per cent., While French brands suddenly between 18 and 22 percent. – lists Tomaszewski.
As stated, these increases stem not from lifting the nominal prices of their models, but with the changing buying habits of consumers.
– getting rich as society and buy more and better brand. Faster growing premium segment, more and better sell the car well equipped, in the case of Volkswagen is even sub-segment Audi – says CEO of GNI Bank of Poland. – You will want to expand our index and show it in two areas: premium brands, dominated by corporate and brand cars popular.
He added that information about price fluctuations allow manufacturers to evaluate their pricing strategies, and this is valuable information for parts suppliers.
SAMAR GNI moto car price index is a joint venture DNB Bank of Poland and Automotive Market Research Institute SAMAR. The author of the methodology and its calculation is the consulting firm Deloitte. This is the first sector index based on complete data from the Polish market. Its creators emphasize that it accurately shows the rate of change of the automotive market in the country.
– We are seeing strong growth in the automotive sector, especially in the area of manufacturers and suppliers of parts for car companies, meanwhile, there is no single index which well typify the situation in the industry. We came to the conclusion that such an index should build – explains Artur Tomaszewski.
The index shows that prices of new cars are closely correlated with the amount of remuneration. In May of 2015. Cumulative price index for cars amounted to 168.5 (and therefore prices were 68.5 per cent. Higher than the average in 2004.), And for wages – 172.1 (by 72.1 per cent. Higher) . This means that manufacturers are trying to offer products tailored to the purchasing power of Poles. It is also seen that car prices are not linked to inflation (CPI price index for consumer goods and services), which in the past year took on negative values.
– In the long term is a natural treatment for adjusting prices consumer purchasing power. Of course, auto moto is a global industry on a European scale we have not really uniform prices. The differences result from the different levels of excise duties or taxes in different countries, so it is a part of the global market. In our view, the price in the long term will remain strongly correlated with the possibilities of demand, ie salaries – says Artur Tomaszewski.
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