2012-02-18 - AMEinfo.com | Saudi Arabia | Latest News - Saudi Arabia: According to a report by Business Monitor International (BMI), the number of new cars sold in Saudi Arabia per year is expected to exceed one million units by 2016, Arab News has reported. BMI estimates that 2011 will have seen a 7% year-on-year increase in sales in 2011, to a total of 688,883 units. "We forecast the market will remain stable throughout the forecast period with growth hovering between 7.5%-9.5% a year to the end of the forecast period in 2016, when annual sales should total over one million units a year. Throughout the period, we forecast that the kingdom will record steady economic growth and vehicle ownership will open up to a wider portion of society," the report said.  

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