Audi sells 1,904 vehicles in Kingdom in 2013

Updated 16 January 2014
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Audi sells 1,904 vehicles in Kingdom in 2013

Audi sold a total of 10,647 vehicles in the Middle East in 2013, as many as 1,904 of them in Saudi Arabia. The UAE was the strongest single market for Audi with 4,458 units sold.
Worldwide, the company sold in 2013 around 1,575,500 automobiles, 8.3 percent more than in 2012.
Audi Middle East sources said the figure had exceeded the company’s annual sales forecasts and thus recorded its best ever year in terms of sales.
The company said 16.3 percent more cars were delivered across the GCC and Levant than during the previous year.
“We have set a historic sales record on the Middle East market, with demand growing considerably faster than expected,” said Trevor Hill, MD, Audi Middle East.
“We are still the fastest growing German premium brand in the Middle East. In 2014, we will continue to focus on strengthening our infrastructure backbone. Almost every dealer in the region is investing in new facilities, in line with the company’s strategy of sustainable growth,” he added.
The company aims to achieve an annual sales target of 20,000 units for the Middle East by 2020.
Audi-approved pre-owned car sales across the Middle East markets, meanwhile, increased by 28.3 percent in 2013 to 2,248 units.
As the demand outstrips the supply, residual values are expected to increase further over the coming months and years.
New Audi approved showrooms have opened in Dubai and Riyadh earlier in the year and will be followed by the opening of new Audi approved showrooms in Lebanon and Qatar in February.
Major growth drivers over the past year were Audi’s three biggest export markets, all of which reported double-digit growth, with China up 21.2 percent, the US up 13.5 percent, and the UK up 14.9 percent. In Europe and China, the brand again led the premium segment in 2013 as the top-selling brand.


UK households grow less confident about their finances in October — IHS Markit

Updated 22 October 2018
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UK households grow less confident about their finances in October — IHS Markit

  • 23 percent of households expect their finances to weaken over the next year
  • The survey asked 1,500 respondents

LONDON: British households’ confidence in their finances worsened this month as their earnings from employment rose at the weakest rate since February, adding to growing signs of caution among consumers, a survey showed on Monday.
The IHS Markit Household Finance Index, watched by the Bank of England as a gauge of consumers’ financial health, cooled to a three-month low of 45.1 from 45.7 in September, though the reading is still one of the highest since the survey’s 2009 launch.
The survey’s findings may raise eyebrows among BoE officials who expect inflation pressure to pick up over the next couple of years, driven by a gradual pick-up in wage growth.
Data firm IHS Markit said the British public’s inflation expectations for the next 12 month fell this month to the lowest in two years, while optimism about house prices was the lowest since July 2016 — just after the Brexit vote.
“UK households cast their most downbeat assessment of current finances in three months in October as weaker earnings growth from employment limited cash availability,” IHS Markit economist Joe Hayes said.
“Looking ahead, households were more concerned about their future budgets.”
Other gauges of financial sentiment among households have also soured recently.
Expectations for personal finances over the next 12 months struck a five-month low in September, according to a closely-watched report from pollsters GfK.
And the latest Thomson Reuters/Ipsos Primary Consumer Sentiment Index showed 23 percent of households expect their finances to weaken over the next year — the biggest proportion since March 2013.
IHS Markit said households’ expectations for Bank of England interest rates were barely changed compared from a month ago, with half of households expecting another interest rate hike within the next six months.
The survey of 1,500 people was conducted between Oct. 11 and Oct. 16.