MIDDLE EAST AND NORTH AFRICA CAR SALES SET TO REACH 3.37 MILLION IN 2020 BRINGING TOTAL NUMBER OF CARS-IN-USE TO 33.9 MILLION

Car sales in the Middle East and North Africa (MENA) are set to reach 3.37 million units in 2020 new research has revealed, as rapid urbanisation, increased industrialisation, and growing middle class populations drive demand for easier mobility across the region.

According to global analysts Frost & Sullivan, 2.35 million light vehicles were sold in the MENA region in 2013, with the Gulf Cooperation Council (GCC) the major contributor to new vehicle sales.The GCC also commands a 57.8 per cent share of vehicles already in-use in the MENA region says Frost & Sullivan, while the total number of vehicles in-use is expected to reach 33.9 million in 2020, up from the current 21 million.

Meanwhile, the steady 4.6 annual growth rate of new car sales over the next six years will further fuel demand for the regional spare parts market, which is estimated to be worth US$16.8 billion by 2020, up from US$9.5 billion in 2013.