BMI View: Weak private consumption levels in 2016 will keep passenger vehicle sales well below the peak
level of 140,000 units in 2010. The dampened investor sentiment due to the unstable security situation,
coupled with the inability of government to fund infrastruct ..."
BMI View: Ongoing security instability will drag on total vehicle sales as big-ticket purchases are delayed
by consumers. Private consumption levels will remain under pressure keeping vehicle sales well below the
peak level of 140,612 units sold in 2010.
Key Vie ..."
BMI View: Low base effects will be the key driver of total vehicle sales in Iraq as the ongoing security
instability continues to dampen private consumption levels resulting in a 2.4% increase in total sales in
? We expect a return to posit ..."
BMI View: Iraq's car market will only slowly return to growth, as the ongoing security concerns and low
levels of private consumption mean there will just be a low base that results in a 2% increase in 2016.
? We do expect a return to positive sales gr ..."
We now expect car sales in Iraq to fall 45% in 2015, after a bombing at a major car dealership highlighted
the security risks to consumers. Spending on luxury items such as cars is also being impeded by reduced
purchasing power, with our Country Risk team forecasting ..."
BMI View: The security situation in Iraq remains one of the biggest threats to the new car market. Indeed,
we expect the car market to contract again in 2015, by 8%, as borders with major trading partners such as
Jordan and Turkey are closed or threatened by heightene ..."
Although the security situation in Iraq, particularly around the key autos market of Kurdistan, remains one
of the biggest threats to vehicle sales in the country over our forecast period, we are also looking at the
impact of lower oil prices heading into 2015. Before ..."
The worsening security situation in Iraq, particularly around the key autos market of Kurdistan, has
prompted us to revise down our car sales forecast for 2014. In line with our view that security would be one
of the biggest threats to the industry during the year, th ..."
We expect a return to positive growth in 2014, despite the heightened security risks, and this is borne out in
industry estimates of 10% year-on-year sales growth for 4M14. Growth will be supported by the stateowned
General Automotive Company's announcement in Februar ..."
On a purely economic level, the outlook for the industry for 2014 and beyond should also be positive. Our
Country Risk team forecasts GDP growth in the country to almost double in 2014 to 10.9% from an
estimated 5.9% in 2013, followed by a further expansion of 10.8% i ..."