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17-03-14

GCC's Automobile industry to grow 5.9 percent to 2017

(MENAFN) Automobile industry is expected to flourish in the GCC countries as vehicle sales will reach 2 million units over the following few years, according to the Peninsula Qatar. Vehicle sales are expected to keep growing in the region on the back of sustained economic growth rates and strong investments in infrastructure. Sales of cars and pickups are estimated to record a cumulative annual growth rate (CAGR) of 5.9 percent between 2012 and 2017, reaching 1.66 million units.