Emirates Automotive Market in 2017 has lost 11.3% reducing the annual lost in the Q4 when consumers have anticipated purchases, before VAT 5% introduction in January. Perspectives for the 2018 are still negative despite the strong growth of non-oil sector.
UAE’s non-oil sector sector reached a near three-year high in December thanks to healthy expansions in output and new orders. Coupled with figures from previous months, this bodes well for economic growth in Q4, as consumers and firms brought forward planned consumption before the introduction of a 5% VAT on 1 January. The new tax is an important step towards broadening the tax base and strengthening a fiscal position which is already among the most solid in the region. On the downside, employment and wage growth remain subdued despite robust domestic activity, which could weigh on private consumption heading into 2018.
UAE vehicles market is running across the hardest crisis of last decades, following a long period of robust expansion. Indeed, in recent years sales grew from 291.000 in the 2012 to the all time record of 408.252 established in the 2015. The demand contraction related to the oil price decline in the international market hit the country more than any other in the region. In addition, it must be considered the relevance of trading activity for vehicles registered in the Emirates and then exported (others GCCs and Africa). This activity has been hit as well, due to low demand from Africa and others GCC countries. The effect was a huge fall in the 2016 and again in the 2017, when full year sales fell down at 276.081 (-11.2% ) despite the sales boom reported in December.
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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 2022. 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 UAE Corner Store