Market Report, "United Arab Emirates Autos Report Q1 2015", published

New vehicle sales have seen impressive growth in the UAE year-to-date, rising by a reported 12% over the first eight months of 2014, to 266,257 units. Against this upbeat backdrop, BMI is happy to maintain its forecast of 10% growth in the UAE new vehicle sales market for 2014, with sales growth set to remain strong in 2015 as well. Over the whole of our forecast period, we are targeting 35% growth in overall vehicle sales, to reach around 540,000 units by end-2018.

BMI's positive view on the medium-term outlook for the UAE economy underpins our upbeat stance. Despite the recent fall in the global oil price, we believe that the UAE can continue to record impressive rates of growth over the coming years. We forecast economic activity across the UAE to remain robust over the coming quarters. Our core scenario sees real GDP growth of 4.0% in 2015.

Full Report Details at
- http://www.fastmr.com/prod/938345_united_arab_emirates_autos_report_q1_2015.aspx?afid=301

A host of leading indicators point to further expansion for the UAE. The country's purchasing managers' index for October came in at a record high of 61.2, underlining our bullish outlook on the country's non-oil economy. In addition, consumer sentiment towards the UAE is picking up, with prices across real estate and equity markets set to head broadly higher over the coming quarters, which bodes well for the prospects for a positive wealth effect. On an emirate level, we expect Dubai to be the main growth driver as the emirate's retail, housing and construction sectors continue growing apace. While growth in Abu Dhabi will be restrained by the plateauing hydrocarbon sector, growth in the emirate's real estate and transport sectors will ensure that growth rates remain healthy. A final encouraging factor for the autos market is the increase in migration from neighbouring states following the Arab Spring. With public transport still inadequate in Dubai, car purchases are seen as immediate priorities for new residents.

The risks to our outlook are relatively small and well balanced. On the upside, any progress in talks...

The United Arab Emirates Autos Report features the latest data and forecasts covering production, sales, imports and exports.

Business Monitor International (BMI)'s United Arab Emirates Autos Report provides industry professionals and strategists, corporate analysts, auto associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the automotives market in United Arab Emirates.

Key Benefits

* Benchmark BMI's independent automotives industry forecasts on United Arab Emirates to test other views - a key input for successful budgetary and planning in the Emirati automotives market.
* Target business opportunities and risks in the Emirati automotives sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in United Arab Emirates.

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