United Arab Emirates Autos Report Q1 2014

United Arab Emirates Autos Report Q1 2014

Published: December 2013
Publisher: Business Monitor International (BMI)
Product ref: 191063
Pages: 58
Format: PDF
Delivery: Immediate download

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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 BMI's 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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By market: United Arab Emirates (in Asia)

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