MENA Car Market in the first half of the 2017 kept the negative performance hit by economic struggles related with the reduction of crude oil production and by the collapse of Algerian and Egyptian markets. Just Lebanon and Iran are growing considerably.
The Middle East and North Africa’s (MENA) economy is struggling with the reduction in crude oil production required to comply with the November deal among OPEC and non-OPEC members and lower-than-expected prices for oil. That said, booming economic activity in Iran and healthy dynamics among oil-importing nations are putting a floor underneath regional growth. According to a preliminary estimate that accounts for around 75% of the region’s nominal GDP, the MENA region expanded 4.0% annually in Q1, down from Q4’s 5.1% rise.
Oil-producing countries, led by Saudi Arabia, were behind Q1’s poor performance in MENA, mostly reflecting reduced crude output. The main exception was Qatar as the country has a relatively diversified economy and a strong position as a natural gas producer. Although Iran’s GDP growth decelerated slightly in Q1, it still posted a double-digit expansion for the third quarter in a row on the back of strong crude output. While the country is benefiting from its reintegration into the global economy
The automotive industry continues to lose terrain after the wide lost reported in the 2016. The light vehicles sales aggregated for the 16 countries from Morocco in the West to Yemen in South Arabian Peninsula, in the first half 2017 have been 1.7 million, down 9.2%.
In North Africa, while Morocco and Tunisia are running above the previous record, while Algeria and Egypt had been hit by local government policy. In the Asian countries, Iran is driving the growth, with Lebanon growing faster than any other country in the region and Israel moving up a little, but on the edge of the record. All others are losing terrain.
Below, you can sort our interactive tables to see data regarding Brands, Groups and Models. Please bear in mind that sales data are subject to adjustments as sources will update their information. This report is updated at the publishing date and will not be modified while the next on this subject will always have the year to date data updated.
|Rank 2017||Rank 2016||Brand||Sales I Half 2017||Sales I Half 2016||Var I Half|