2014-02-10 00:34:02 - United Arab Emirates Autos Report Q1 2014 - a new market research report on companiesandmarkets.com
BMI has revised up its forecasts for 2013 new vehicle sales in the UAE, from 14.1% to a rise of 16.7% growth. This would see new vehicle sales total 362,013 units. The most recent data (7M13) show that new vehicle sales were reportedly up by 16% year-on-year (y-o-y), at 201,122 units. Looking forward, BMI retains an optimistic outlook on new vehicle sales, forecasting further growth of nearly 20% over the 2014-17 period.
Underpinning our upbeat stance is the increasingly positive view on the medium-term outlook for the UAE economy. At the end of November 2013, we revised up our forecasts for Dubai´s economy on the back of the emirate winning the nomination to host the World Expo 2020. We now forecast
Dubai´s real GDP growth to average 4.3% over the period to 2017, up from our previous estimate of 4.1%. For the UAE as a whole, we are targeting 3.4% GDP growth in 2014 and we expect economic activity across the country to remain relatively robust over the coming quarters.
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