GCC Vehicles Market in the 2017 lost 17.8% falling at 1.1 million units, down 0.7 million from the 2015 all time record. The region will keep suffer in the 2018, when customer price increase generated by VAT introduction will penalize vehicles and fuel prices.
The Cooperation Council for the Arab States of the Gulf (Arabic: مجلس التعاون لدول الخليج), originally (and still colloquially) known as the Gulf Cooperation Council (GCC, مجلس التعاون الخليجي), is a regional intergovernmental political and economic union consisting of all Arab states of the Persian Gulf, except for Iraq. Its member states are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The Charter of the Gulf Cooperation Council was signed on 25 May 1981, formally establishing the institution.
A common market was completed and fully operational on 1 January 2015 allowing full equality among GCC citizens to work in the government and private sectors, social insurance and retirement coverage, real estate ownership, capital movement, access to education, health and other social services in all member states. However, some barriers remained in the free movement of goods and services. The coordination of taxation systems, accounting standards and civil legislation is currently in progress.
GCC Vehicles Market in 2015 ended a long growing run with a record volume of 1.786.000 light vehicles sold. Then the economic crisis generated by the sharp fall of oil price in the international market hit the sector with annual volume declined in the 2017 at only 1.172.000 units, down 17.3% from the previous year.
Please note that Yemen is not in GCC, while is included in our report for geographical position.
| Sales 2012 | Sales 2013 | Sales 2014 | Sales 2015 | Sales 2016 | Sales 2017 | Sales 2018 e | |
|---|---|---|---|---|---|---|---|
| Bahrain | 46.696 | 54.323 | 62.239 | 65.042 | 49.807 | 38.260 | 35.264 |
| Kuwait | 126.290 | 154.635 | 162.719 | 162.402 | 115.986 | 106.913 | 113.866 |
| Oman | 202.740 | 217.924 | 214.896 | 201.169 | 158.490 | 148.039 | 154.842 |
| Qatar | 83.913 | 90.249 | 100.128 | 96.581 | 72.945 | 54.280 | 51.259 |
| Saudi Arabia | 691.942 | 746.857 | 821.635 | 844.581 | 715.472 | 544.721 | 496.605 |
| UAE | 291.637 | 342.524 | 391.513 | 408.252 | 311.048 | 276.081 | 276.613 |
| Yemen | 5.615 | 14.696 | 6.176 | 8.658 | 3.025 | 3.938 | 3.933 |
| Total | 1.448.833 | 1.621.208 | 1.759.306 | 1.786.684 | 1.426.773 | 1.172.232 | 1.132.381 |
| 2012 Var | 2013 Var | 2014 Var | 2015 Var | 2016 Var | 2017 Var | 2018 var e | |
|---|---|---|---|---|---|---|---|
| Bahrain | 50,0% | 16,3% | 14,6% | 4,5% | -23,4% | -23,2% | -7,8% |
| Kuwait | 20,0% | 22,4% | 5,2% | -0,2% | -28,6% | -7,8% | 6,5% |
| Oman | 20,1% | 7,5% | -1,4% | -6,4% | -21,2% | -6,6% | 4,6% |
| Qatar | 34,6% | 7,6% | 10,9% | -3,5% | -24,5% | -25,6% | -5,6% |
| Saudi Arabia | 16,4% | 7,9% | 10,0% | 2,8% | -15,3% | -23,9% | -8,8% |
| UAE | 24,2% | 17,4% | 14,3% | 4,3% | -23,8% | -11,2% | 0,2% |
| Yemen | 23,8% | 161,7% | -58,0% | 40,2% | -65,1% | 30,2% | -0,1% |
| Total | 20,6% | 11,9% | 8,5% | 1,6% | -20,1% | -17,8% | -3,4% |
