Bahrain Auto Sales have recovered, after bottoming out in the Q1, and is moderately positive with year to date September figures at 28.281 (+2.5%). The pull-ahead generated by the VAT introduction scheduled for January 2019 will support Q4 demand.
Bahraini economy rebounded in Q2 chiefly on the back of the non-oil sector, while the oil economy only expanded at a meager rate. The external position remains a worry, however, despite a recovery in international reserves in August on higher oil prices. This should ease market fears over Bahrain’s ability to meet its debt repayments and reduce currency pressures.
Higher oil prices and the construction sector should buttress the economy in H2 and next year, while a financial assistance package from GCC neighbors should shore up weak public finances. However, fragile macroeconomic fundamentals remain a downside risk.
Bahrain vehicles market ended in the 2015 a long positive period, hitting the all time record at 65.042 sales. However the economic crisis generated in the region by the fall of oil price in the international market have rapidly reduced the consumer’s demand and sales dropped to 49.800 in the 2016 and 38.260 in the 2017, down 23.2%.
In the 2018 the new vehicles light vehicles market has stopped the fall. After a first quarter ended with a moderate decline at 9.841 sales (-2.5%), the market has shown a positive mood and year to date September sales were 28.281 (+2.9%) with a still positive outlook for the Q4. The introduction of VAT in January 2019 should create a pull-ahead effect untill December, but should penalize the start of the new year.
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At brand-wise, the market leader Toyota has lost share selling 9.395 units (-9.9%) while the second, Nissan, boomed 45.8% at 3.178 units and the third, Hyundai reported heavy lost.
Research, Consulting, Data & Forecast
F2M covers intensively this market with several products developed to help any investigation required. Market Researches in PDF are immediately available for download with study on the market since 2005 and with forecast up to the 2025. AutoData in EXCEL are immediately downloadable with annual sales volume, split by month, for all brands and all models distributed in the market. This year data are released year to date, but you will receive a monthly update until the year-end. See details within Bahrain Corner Store.