Saudi new car auctions to ascend 15%

If we take a look on new car that are going to sale in the region of Saudi Arabia, new curbside car sales in Saudi Arabia is estimate to intensification by 15 out of each hundred in the year of 2014 to influence 609,500 parts as associated to last year, and perceives a 4.8 out of each hundred growing in new or upcoming profitable automobile rummage sale over the year of 2013 in order to reach around 167,712 elements, BMI thought in its “Saudi Arabia Automobiles Explosion Q3 2013”. All voiced, the whole new automobile marketplace that should understand development of particular portion of 12.6 percent, to spread 777,212 entities.
For 2013, BMI maintains its forecast for real GDP growth of 4.1 percent, rising to 4.6 percent in 2014 on the back of a slight rebound in oil exports.
Business activity in the private sector remains supported by the government’s loose fiscal policy stance, easy credit conditions and robust consumer confidence.
Looking forward, BMI expects the government’s fiscal policy stance “to remain broadly supportive of the economy over the coming quarters, with both current spending and capital expenditure continuing to see strong growth.”
Encouragingly for the autos sector, BMI expects private consumption to grow by 5 percent throughout 2013; with the retail sector having undergone a sustained boom since government spending began accelerating in 2011.
BMI believes that the outlook for the retail sector is set to remain bright over the medium term, with sales benefiting from rising disposable incomes, favorable demographics and increasing urbanization.