Vehicle Sales To Fall In Line With Spending

The Kuwaiti automotive market is set to shrink markedly in 2009 amid rapidly deteriorating economic circumstances, with BMI forecasting a 5.0% drop in car sales, according to its latest Kuwait Automotives Report. The Kuwaiti car market will mirror trends within the wider economy, suffering from lower oil revenue and falling consumer confidence. The outlook for car sales has deteriorated considerably since the previous quarter as liquidity in the banking system has dried up and the financial sector has been thrown into turmoil. At the same time, the expatriate population is shrinking as jobs are cut, thereby reducing the number of

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