BMI View: Over the past quarter, we have become increasingly bearish on the short-term outlook for new
vehicle sales. We now forecast a 30% fall in sales over 2016, although luxury brands will outperform.
? Most Kuwaitis are putting off new vehicle pur ..."
BMI View: We maintain a cautious view on the outlook for Kuwaiti new vehicle sales in 2016. In the
absence of any monthly data having been released as yet by the local authorities, we retain our forecast of
0.5% growth for the market this year.
BMI View: A combination of a slowing economy, low oil prices and higher local interest rates continues to
underpin BMI's cautious stance towards the Kuwaiti new vehicle sales market in 2016. We are targeting
just 0.5% sales growth for the sector.
Key Views ..."
BMI View: A combination of a slowing economy and rising interest rates underpins BMI's measured stance
towards the Kuwaiti new vehicle sales market in 2016. We are targeting 3% sales growth for the sector.
Table: Key Views
? Kuwaiti new passenger car sales have ..."
This quarter, BMI is revising down its sales forecasts for the Kuwait new vehicle sales market, both for the
near term and the medium term. We are now targeting just 2% growth over the current year, down from 5%
growth previously. For the remainder of our forecast per ..."
There are growing downside risks to BMI's forecast of 5% sales growth for the Kuwaiti new vehicle sales
market in 2015. For one, we expect economic growth to head broadly lower over the coming
years, primarily on the back of weaker oil prices and minimal growth in the ..."
BMI View: Continued growth in private consumption should ensure strong demand for passenger cars and
SUVs, while the February 2015 approval by parliament of the new five-year development plan should lead
to an increase in demand for commercial vehicles. BMI maintains ..."
In recent months, there has been a slowdown in new car sales within Kuwait. 8M14 sales data from the Best
Selling Cars blog suggests that annual growth has eased back to 2%, from a reported 7% growth over H114.
This makes for total sales of 100,964 units year-to-date. Against t ..."
A total of 180,000 new vehicles were sold in Kuwait in 2013, according to information from the
Focus2Move website. This represented 9.4% growth on the previous year. Looking forward, BMI remains
upbeat on the medium-term outlook for the Kuwaiti new vehicle sales marke ..."
Final-year sales data for 2013 were unavailable as this report was being compiled. Consequently, BMI
retains its current forecasts this quarter, although we have now extended our forecast period to 2018.
Overall, BMI remains upbeat on the medium-term outlook for the K ..."