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BMI View: A muted growth outlook for Hong Kong's economy, underpinned by a slowing Chinese economy
and cooling property market, will weaken consumer sentiment, leading to a contraction of 16.6% in vehicle
sales in 2016.
? Vehicle sales will contract 16.6% in 2016
? A muted growth outlook for Hong Kong's economy will lead to a fall in consumer sentiment, translating
into less willingness to spend on big-ticket items.
? The cooling property market will have negative wealth effects on consumers, leading to a fall in spending
on new passenger car purchases.
? The muted construction sector and sluggish exports will lead to a fall in commercial vehicle demand.