Oman Autos Report - Business Monitor International - Industry Reports

Oman Autos Report

Oman Autos Report - Business Monitor International - Industry Reports
Oman Autos Report
Published Aug 20, 2016
33 pages — Published Aug 20, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

� Business Monitor International Ltd Page -- choose to retain our downbeat forecasts for now, as we believe there are a number of reasons to be cautious as we enter the second half of the year. First, government purchases of vehicles may well drop off over H---. ...Growth will weaken to -.- and -.- in real terms in ---- and ----, respectively, compared with the annualised rate of -.- recorded between ---- and ----. Moreover, as the government needs to take steps to reduce its deficit amid a lower global oil price environment, we could well see the introduction of new taxes and further energy subsidy reform, both of which will weigh on private consumption levels and, by extension, the short-term outlook for passenger car sales. Higher domestic interest rates could also feed into rising auto financing rates over H---/----, which will again act as a suppressant to new vehicle demand. ...Looking beyond ----, and given the many economic challenges facing Oman, it is of little surprise that we expect growth in private consumption (a key indicator of potential new vehicle demand) to ease to -.- over the coming years, down from -.- over the --------- period. Against this backdrop, we only forecast a modest recovery in new PC sales over the coming five years.

...Recent sales data are bearing out our view that ---- will prove a difficult year for the Omani auto sector. We believe there remain a number of reasons to be cautious as we enter the second half of the year. ...We believe there remain a number of reasons to be cautious as we enter the second half of the year. Within the PC/SUV segment, the vast majority of Omanis will be scaling back on big-ticket purchases, such as a new vehicle, given the country s weakening economy. Government purchases of vehicles may well drop off over H---, given the need to make savings. ...The ban on second-hand vehicles more than seven years old is also having a highly-negative impact on the used car market in Oman. Oman is becoming increasingly important as a regional auto import and export hub.

...Looking at sales trends for ----, new vehicle sales totalled --,--- units over the first five months of the year, down by just over -.- y-o-y, according to our calculation based on information from Oman s National Centre for Statistics and Information. Breaking down the headline figure, passenger car sales totalled --,--- units, down just over -.- y-o-y, with commercial vehicle sales totalling -,--- units, down just under -.- y-o-y. ...

  
Source:
Document ID
2053-2822
Country
Industry
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Oman Autos Report" Aug 20, 2016. Alacra Store. Dec 09, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Oman-Autos-Report-2026-1268>
  
APA:
Business Monitor International - Industry Reports. (2016). Oman Autos Report Aug 20, 2016. New York, NY: Alacra Store. Retrieved Dec 09, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Oman-Autos-Report-2026-1268>
  
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