New Report Available: United Arab Emirates Autos Report Q4 2014

From: Fast Market Research, Inc.
Published: Thu Oct 23 2014

New car sales have seen healthy growth in the UAE during 2014 to date. H114 was sales rise by a reported 20% to 199,277 units. June was a particularly strong month, with sales rising by 24% year-on-year (y-o-y). BMI believes this performance was bolstered in part by seasonal promotions. Given the positive start to 2014, we have decided to make an upwards revision to our 2014 sales forecast. We are now forecasting 10% growth, an improvement on our previous forecast of a 7% increase. This will take new car sales in the full year to just shy of 400,000 units.

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BMI's positive view on the medium-term outlook for the UAE economy underpins our upbeat stance on the automotives sector. We forecast economic activity across the UAE to remain relatively robust over the coming quarters. Our core scenario sees real GDP growth of 3.9% in 2014, before picking up to 4.0% in 2015 as concerns over Dubai's debt funding cliff pass. A host of leading indicators point to further expansion for the UAE. The UAE's purchasing managers' index (PMI) for May 2014 came in at 57.3, one of the highest readings over the past year, underlining our bullish outlook on the country's non-oil economy. In addition, consumer sentiment towards the UAE is picking up. Prices across real estate and equity markets have headed sharply higher in recent months, which bode well for the prospects for a positive wealth effect. We are broadly bullish on real estate markets across the UAE, particularly in Dubai, which will likely see double-digit growth in prices for several months.

Rising prices across real estate and equity markets should also bode well for increased discretionary spending on autos by UAE citizens. Consumer and business sentiment towards Dubai has improved since the start of the year, with real estate and equity markets showing the most notable signs of this. The Dubai Financial Market General Index (DFMGI) has been one of the best-performing equity markets in the Middle East since the start of...

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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You may also be interested in these related reports:

- United Arab Emirates Freight Transport Report Q4 2014
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- United Arab Emirates Insurance Report Q4 2014
- United Arab Emirates Real Estate Report Q4 2014
- United Arab Emirates Food & Drink Report Q4 2014

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