The market hit rock bottom in December 1998 and was dead in January 1999. Though the firm was not prepared to release concrete figures, its overall sales in 1999 apparently increased by the same margin as in the previous year, when BMW sold 6,500 units in the Middle East. For Bailey-McEwan, prospects will brighten when Syria, Iran and Iraq become free markets. Syria has enormous potential and if sanctions are lifted against Iraq, a huge market for luxury vehicles will emerge. BMW, it seems, is the exception which proves the rule.
Extravagant cars are just that - an extravagance.
When the economy tightens as it did last year, potential car buyers rethink their need for a little bit of luxury. The most comprehensive survey of executive salaries in the region. The latest ranking of the Gulf's best business cities, based on their economic weight and their importance as centres of international business.