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February 23, 2020
3 reasons why GCC automotive market is facing slump
Automobile is an essential part of the lifestyle of middle east citizens and hence forms an important component of GCC’s annual imports. The region enjoys higher ownership of automobiles primarily attributable to per capita income above the world average. Middle East imports, often fluctuates with oil prices and so is the case with automobile imports too. But what is noteworthy is the sharp decline in imports of automobiles by value and more particularly by number of vehicles during 2016 and...