BMI maintains an upbeat view on the Saudi new car sales market. New light passenger vehicle sales in Saudi Arabia reportedly increased by some 11% year-on-year (y-o-y) over H113, to just below the 400,000 unit mark. This growth bodes well for BMI’s full-year target of total vehicle sales of 777,212. As such, we maintain our new car sales forecasts this quarter. Looking ahead, BMI remains optimistic on the outlook for the Saudi Arabian economy. We expect the government’s fiscal policy stance to remain broadly supportive of the economy over the coming quarters, with both current spending and capital expenditure continuing …
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