Saudi car imports seen to grow to SR76.4bn by 2015
Complex Made Simple

Saudi car imports seen to grow to SR76.4bn by 2015

Saudi car imports seen to grow to SR76.4bn by 2015

Saudi lender National Commercial Bank (NCB) has said the country's automotive sector is expected to resume expansion in the medium term after the earthquake in Japan and heavy flooding in Thailand disrupted the supply chains of several automobile producers which negatively impacted the kingdom's vehicle stocks, causing auto imports to marginally increase to 737,197 in 2011, Saudi Gazette has reported. Imports are forecasted to grow at a CAGR of 9% over the next four years, marking an annual growth of 4.8%, driven by population and income growth, the report said. Total vehicle imports are projected to increase between 8-9% annually to reach 1,015,187 units in 2015, valued at SR76.4bn, it added.

    Author
    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

    © 2021, ADigitalcom. All rights reserved