BMI View: This quarter, we have again revised down our new vehicle sales forecasts. For 2017, we arenow forecasting a fall of 19.6%, with CV sales (-8.2%) to outperform PV sales (-22.0%).
From 2018 onwards, we believe that there is scope for a rebound in UAE new vehicle sales as theeconomy recovers, although we do not currently forecast a return to the market's 2015 high (of over400,000 units sold) before 2021.
This underlines the severe reverse that the market has suffered across both 2016 and 2017.
We continue to believe that electric vehicles remain a growth area as we move into 2018.
HCV sales should also remain robust, amid strong demand from the Freight Transport and Constructionsectors.