Passenger car sales are expected to remain weak in 2017 because of a slump in oil prices and a sluggish economic environment ©123RF
Passenger car sales are expected to remain weak in 2017 because of a slump in oil prices and a sluggish economic environment ©123RF

GCC automotive sector facing slowdown in 2017

13 December 2016

The Gulf Cooperation Council (GCC) automobile sector is currently facing a slowdown with consumers scaling back new car purchases, but the market is likely to rebound by 2018, according to a new report.

Investment banking advisory firm Alpen Capital’s study said the GCC automobile sector was dynamic and one of the faster growing sectors in the world due to the region’s growing population and high disposable income along with significant infrastructure developments.

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