Reduced Vehicle Stocks Support Forecast Revision

Car dealers in the UAE are reporting a return to more normal stock inventories, after the economic slowdown had created a backlog in the latter half of 2008. Anecdotal evidence from companies such as Nissan and Renault dealer Arabian Automobiles, suggests that dealers largely relied on promotions and price cuts to reduce their inventories from around 15 months of vehicles to a more normal three to four months. An anticipated stabilisation in the market such as this in H209 was a crucial factor in BMI's decision to revise its sales forecast for the year from a drop of 8.5% to

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