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Middle East automotive market is optimistic in future

 

According to Indian ZeeNews reported that the UAE official has said that despite regional instability in some countries, but in the form of the automotive industry in the Middle East is still very optimistic. From Bentley to modern, almost every car manufacturer in the Middle East have achieved double-digit sales performance, sales growth of 20% to 40%. Most car brand in 2013 is expected to increase more than 25%.

U.S. consulting firm Frost and Sullivan report shows that in 2012 the Gulf Cooperation Council (GCC) countries in the automotive aftermarket vibrant, growing at 15% to 20% , by 2016 the market is expected to reach $ 14.4 billion . In the next five years, by the Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, consisting of GCC , which includes spare parts, tires, batteries and lubricants, including the automobile market is expected to grow 15% to 20%. Including the automotive aftermarket, in 2012, the GCC automobile consumption grew by 15% to $7.5 billion. In 2012, Dubai's Jebel Ali Free Trade Area of the automotive sector generated $4.2 billion in trade, an increase of 15%. Over the past 10 years, the automotive sector the number of companies has increased seven -fold.

According to Dubai Customs statistics show that in the past four years, the Dubai auto parts trade has increased by 27%. Automobile-related products main export destination is Iran, Saudi Arabia and Afghanistan, while the main products include auto parts, tires and engines.