Mideast commercial vehicle sales soar
Dubai, January 12, 2011
The sales of commercial vehicles in key markets in the Mena region showed significant growth last year with Egypt topping the list with 54,170 units, up 13 per cent compared to 47,721 the previous year.
This year, the Egypt sales figure is expected to rise 21 per cent to 65,841 units and is further expected to grow 58 per cent by 2014 to hit 104,477 units, said experts citing data.
According to research information gathered by Streamline Marketing Group, organisers of the specialist trade exhibition, Commercial Vehicles Middle East (CVME), the sales in Saudi Arabia too grew by five per cent from 116,398 units in 2009 to 122,275 last year.
There will be an increase of almost 7 per cent this year taking the sales volume to 130,616 units. This figure will further rise by 31 per cent in the next three years to hit 171,274 units, said a statement from Streamline Marketing Group.
"In Kuwait, the commercial vehicle sales last year amounted to 32,494 units with a value of $1.71 billion, compared with 32,029 units worth $1.67 billion in 2009. Projections are for growth to 33,046 units this year, and to 36,889 by 2015."
These figures indicate that an industry which had been hit hard by global financial crisis is slowly moving into prosperous times, and the mood of optimism was emphasised with confirmation of four major players – Tata Motors, Renault Trucks, Iveco and Liberty Automobiles – for the upcoming CVME show in Dubai, the statement added.
To be held from March 14 to 16, CVME will bring together the largest annual gathering of transport, fleet and logistics decision makers from every sector of the region's road transport business.-TradeArabia News Service