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- Vitali Bielski Saturday 07 January 2017The year 2016 was tough for the automotive industry across virtually all countries in the GCC.The drop in new vehicle sales by double-digits, overstocking of parts by distributors and the lack of clarity for the near future – these were all the main causes for a volatile year.Despite that, one thing remains clear: the automotive industry will only grow in the region.
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- The Turkish overall auto sales market, including light trucks, hit a new record with nearly 1 million in auto sales in 2016, according to the latest release by the Automotive Manufacturers Association (OSD).The country's automotive sector was the biggest exporter last year with around $23.9 billion in exports, up from $21.3 billion in 2015, securing a 17 percent share in the total volume of exports, which has placed the automotive industry as the leader of Turkish exports for the 11th year in a row.The OSD said the overall auto sales market increased by 1.6 percent to reach 983,720 last year compared to 2015, marking the highest level of all times.
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- A number of car experts expect the approval of the automotive industry strategy to cause conflict with the European side.They believe the strategy disturbs the application of the EU-Egypt Association Agreement for free trade, as the strategy aims to impose a new tax on the automotive sector in exchange for reducing custom fees.Ambassador Gamal Bayoumi, secretary general of the Egyptian-European partnership agreement, said that the European side had not expressed objection to the state's efforts to issue a law to develop the car manufacturing industry until now.
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Top 8 predictions for the GCC's automotive industry in 2017
- Vitali Bielski Saturday 07 January 2017The year 2016 was tough for the automotive industry across virtually all countries in the GCC.The drop in new vehicle sales by double-digits, overstocking of parts by distributors and the lack of clarity for the near future – these were all the main causes for a volatile year.Despite that, one thing remains clear: the automotive industry will only grow in the region.
read more from here
Turkish automotive industry leading Turkish exports for 11 years in row
- The Turkish overall auto sales market, including light trucks, hit a new record with nearly 1 million in auto sales in 2016, according to the latest release by the Automotive Manufacturers Association (OSD).The country's automotive sector was the biggest exporter last year with around $23.9 billion in exports, up from $21.3 billion in 2015, securing a 17 percent share in the total volume of exports, which has placed the automotive industry as the leader of Turkish exports for the 11th year in a row.The OSD said the overall auto sales market increased by 1.6 percent to reach 983,720 last year compared to 2015, marking the highest level of all times.
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European side did not object to automotive industry strategy: Bayoumi
- A number of car experts expect the approval of the automotive industry strategy to cause conflict with the European side.They believe the strategy disturbs the application of the EU-Egypt Association Agreement for free trade, as the strategy aims to impose a new tax on the automotive sector in exchange for reducing custom fees.Ambassador Gamal Bayoumi, secretary general of the Egyptian-European partnership agreement, said that the European side had not expressed objection to the state's efforts to issue a law to develop the car manufacturing industry until now.
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