Portugal Autos Q1 2020
In contrast to Portugal's vehicle sales sector, we maintain a bullish outlook for its vehicle production becauseof investment projects announced by the country's main manufacturers and the positive prospects for manufacturers to continueraising exports to EU markets. We forecast vehicle production to expand 7.6% in 2020 and thereafter to average annual growth of3.1% over our 10-year forecast period to 2028. Breaking this forecast down, we anticipate an 8.6% increase in passenger vehicleoutput in 2020 and for the CV segment we expect output to expand by 3.0%.
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