UAE’s Passenger Car Market Growth 2021 | Glasgow Insights
Glasgow Research & Consulting has released its latest strategic market study of the UAE passenger car market , shedding insight into the sector state and outlook for the coming years. After unveiling the report’s insights at a recent automotive industry event, partner Vishal Pandey takes the pen to outline some of the study’s key insights. The government of the United Arab Emirates supports the automotive sector as a key revenue generator. As a result, it is one of the fastest-growing automobile markets in the Middle East region. After Saudi Arabia, UAE holds the second-largest automotive market position in the Gulf Cooperation Council (GCC). After the 2008 financial crisis, the UAE automotive market gradually began to recover. There was outstanding growth between late 2010 to early 2015. This growth was disrupted in the second half of 2015 as oil revenue declined. The market turned for the better in 2019, but soon the Covid-19 pandemic hit the country affect...