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FINANCIAL NEWS
UAE car market grows 27% in Jan-Feb: BMI
07 May 2013
(MENAFN) Business Monitor International (BMI) stated that in January-February, the UAE’s car market’s growth exceeded 27 percent on annual basis, reported Gulf News.
BMI added that auto sales in the country are projected to increase to 380,000 units this year, from 305,000 in 2012.
During the 5-year forecast period to 2017, the auto market is expected to expand by an average of 9 percent annually.
It said that the UAE is amongst the world’s top auto markets with double-digit growth, due to the buoyant growth in last year’s auto market.
It is worth noting that Japanese carmakers dominate the UAE market, controlling a considerable market share.
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