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Automotive Report Hong Kong

  • ID: 2138396
  • Report
  • Region: Hong Kong
  • 12 Pages
  • The Economist Intelligence Unit
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Hong Kong is a special administrative region of the People's Republic of China with high disposable income per head but small population. The market is small, saturated and volatile. New car registrations fell by 7% in 2018, after rising by 8% in 2017, according to the Hong Kong Transport Department. The rise in 2017 had in turn followed a 17.7% plunge in 2016.

In the first three months of 2019 new private car registrations rose by 5.8% year on year, helped by a 30% jump in sales in March, compared with March 2018. We expect car sales to rise by 4.9% in 2019. Over our 2019-23 forecast period, growth in passenger-car registrations will rise marginally, registering an annual growth rate of 1.9%.

We expect real GDP to expand at average annual rate of 2.6% in 2019-23, nearly identical to the rate of growth over the previous five years. Interest rates will rise, since the Hong Kong dollar is linked via a currency board to the US dollar and its Monetary Authority (which performs some of the functions of a central bank) will have to follow any interest-rate adjustments by the Federal Reserve (the Fed, the US central bank). As a result, annual car sales will remain below their recent peak in 2015.

Industry List: Automotive, Automotive, Commercial and other vehicles, Automotive, Fuel sources, Automotive, Passenger vehicles, Automotive, Production
Industry Codes (NAIC): 336
Industry Codes (SIC): 37
Note: Product cover images may vary from those shown
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Automotive Report Hong Kong

Automotive report: Overview

Automotive report: Passenger cars

Automotive report: Commercial and other vehicles

Automotive report: Production

Automotive report: Fuel sources
Note: Product cover images may vary from those shown
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