Steady Growth For Regional Safe Haven

Sales of new vehicles in Saudi Arabia have shown steady growth since the slump precipitated by the 2009 financial crisis. BMI estimates that 2011 will have seen a 7.0% year-on-year (y-o-y) increase in sales in 2011, to a total of 688,883 units. We forecast the market will remain stable throughout the forecast period with growth hovering between 7.5-9.5% a year to the end of the forecast period in 2016, when annual sales should total over 1mn units a year. Throughout the period we forecast that the kingdom will record steady economic growth and vehicle ownership will open up to a

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