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FINANCIAL NEWS
Saudi automotive sector to recover in 2015
21 Jul 2013
(MENAFN) The Saudi automotive sector is expected to witness recovery in 2015 reaching 1,015,187 units of imported automotives, indicating an annual growth of 8-9 percent, reported Arab News.
Increasing demand on automotives during the last two years went up for small passenger cars by 30%, SUVs by 4%, and commercial vehicles by 39.8%.
It’s worth mentioning that Saudi Arabia’s auto imports declined in 2011, affected by natural disasters in Japan and Thailand, to witness an annual increase of only 4.8%.
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