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Country Industry Forecast - Political and Policy Analysis of the Ukrainian Automotive Industry
Frost & Sullivan, Dec 2009, Pages: 39
This Frost & Sullivan Automotive Country Industry Forecast service provides vital inputs for evaluating the attractiveness of a country and its automotive industry. Besides enabling decision makers to assess the impact of non-market forces, it also helps in identifying new market opportunities. This service provides a strong base for preparing contingency plans. In addition, investors can assess industry-specific risk factors as well as conduct a more in-depth micro research.
Initially, the automotive industry thrived largely in developed countries such as the United States, Japan, Germany, and France. However, currently these markets are on the decline and markets such as Brazil, Russia, India, and China (BRIC) nations, are showing signs of development. In 2008, the worldwide production of motor vehicles, both cars and commercial vehicles, was more than 70 million.This was mainly due to strong automotive policies, particularly investment and trade policies, that favored car manufacturers and helped structure the market. However, underlying threats such as increasing oil prices and external shocks from the world economy have been curbing the growth of the automotive industry by dampening the sales, production, imports, and exports of automobiles globally. Nevertheless, the industry is likely to emerge stronger and catalyze the revival of the world economy, as developed countries are providing bailout loans and introducing bills that will reform the automotive industry. Countries such as Ukraine are improving its manufacturing base for the automotive industry. Along with strong trade relations with the European Union (EU), effective industry-specific policies and low labor costs have transformed Ukraine into a major manufacturer of passenger cars and automotive aftermarket in the Commonwealth Independent States region.
Although the Ukrainian automotive industry has not been accorded much priority, recent automotive regulations and the need to match EU standards have driven this industry and made it highly competitive in the Commonwealth Independent States region. Automotive production surged from 6,347 units in 1997 to 423,127 units in 2008, resulting in a highly developed manufacturing sector in the country. From 2005 to 2007, the car market of Ukraine had shown a remarkable 25 per cent growth rate, year-on-year. However this growth rate reduced to less than 19 per cent in 2008 due to the global economic slowdown, and further expected to dip to 15-17 per cent in 2009. The country’s accession to the Worth Trade Organization (WTO) in 2008 has had numerous positive implications in terms of improved market access, enhanced business practices, and protection from unfair trade barriers for the automobile industry. Moreover, it has compelled manufacturers to comply with international quality standards, thereby improving the quality of their automotive products.
Ukraine’s future accession to the EU is expected to improve its trade relations with EU automotive markets. The Joint EU-Ukraine action plan in 2005 has lowered trade barriers and enhanced trading of automobiles, transport equipments, and fuels between the two parties. With respect to industry-specific policies, the adoption of strict safety measures has spurred the demand for road safety devices. In addition, national environmental regulations and the need to comply with the emission targets have hiked the demand for energy-efficient vehicles.
Benefits
Expert Frost & Sullivan analysts thoroughly examine the following benefits in this research:
Identify New Market Opportunities
The future trends of the political and policy environment of Ukraine have been analyzed along with their impact on the automotive industry. This analysis will provide valuable information to industry participants on opportunities in specific segments of the automotive industry.
Understand Future Industry Trends
The study gives an insight into the Ukrainian automotive industry, one of the most dynamic industries, discusses its dependence on the prevailing political and policy scenario, and forecasts its future. This will help industry participants to gauge the future direction of the market, enabling them to devise appropriate strategies to improve market share.
Comprehend Policy and Regulatory Environment
A detailed analysis of the policy and regulatory framework of Ukrainian automotive industry offers insights into the regulatory environment, as it exists, and the future direction of the same. This is particularly beneficial in the case of the automotive industry, as the regulations form an important criterion for industry performance.
Devise Country Entry Strategies
The study provides an analysis of the strengths and weaknesses of the relevant political and policy environment of Ukraine. This is particularly useful in devising country-specific strategies for industry participants.
Evaluate Industry Segment Potential
This research offers detailed coverage of political issues as well as industry-specific and macro economic policies impacting the industry. It provides both country and industry trends and forecasts for major variables and is an excellent tool for companies that plan to enter new geographic markets. This will help corporate planners in developing accurate business plans and planning company resources.
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