News: Saudi Arabia distributor Al Majid Motors is setting up a deal with premium provider of leisure and entertainment Emaar Retail to sell its Kia Motors' vehicles at the Dubai Ice Rink, The Dubai Mall, AME info reports. The dealership group will place its new Kia Quoris in the venue as it believes the Mall is the ideal place for Kia to boost its brand perception and engage with consumers. Al Majid announced 8% sales growth in Q113 and is striving to increase its market share by 6%.
BMI View: Saudi Arabian new passenger car sales increased by 18% over 2012, to reach 704,214 units. This was very much in line with BMI's forecast of around 700,000 units for the full year. BMI's Country Risk team expects that Saudi Arabia should remain on a solid growth path through 2013, as the non-oil sector continues to expand on the back of booming household expenditure and given a strongly expansionary fiscal stance from the government. BMI is forecasting 23.8% growth in passenger car sales in 2013, to reach 871,931 units.