BMW, MINI Sales Up 33%
News: Kuwaiti BMW dealership Ali Alghanim & Sons Automotive reported a 33% year-on-year (y-o-y) increase in sales of BMW and MINI models in the January-September period. The biggest seller across the product range was the 5 Series, which represented an 11% increase in registrations. Sales of the BMW 7 Series, which is a key driver of growth for the BMW brand in the country, climbed by 102% y-o-y in the reported period. The company posted a 34% y-o-y increase in sales of the 3 Series amid an increase in supply of the new model.
BMI View: The number of premium brands reporting record sales in the Middle East is evidence that while BMI does have a positive view on the growth of the volume segment, we are also right to believe that the traditionally strong premium segment will maintain its momentum. BMW has been investing to maintain its momentum in the region, particularly through Mini. The brand has expanded into Jordan and invested in new showrooms in the UAE and Saudi Arabia, which are the largest volume markets.