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GCC to see slowest growth in vehicle sales
(MENAFN) BMI Research has released new report that expects the GCC to record a major slowdown in vehicle sales growth.
The report declared a forecast of a 3 percent boost in the GCC's vehicle sales growth, as local markets experience a holdup in recovery.
Expecting a 4 percent growth in Saudi Arabia, the report said "this 4 percent growth for Saudi Arabia is actually quite low, given that sales have fallen by over 20 percent in 2016 and 2017."
It added "it also leaves volumes far below their previous levels, at just over 550,000 units, compared with over 870,000 in 2015."
The report declared a forecast of a 3 percent boost in the GCC's vehicle sales growth, as local markets experience a holdup in recovery.
Expecting a 4 percent growth in Saudi Arabia, the report said "this 4 percent growth for Saudi Arabia is actually quite low, given that sales have fallen by over 20 percent in 2016 and 2017."
It added "it also leaves volumes far below their previous levels, at just over 550,000 units, compared with over 870,000 in 2015."
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