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The growing proportion of young people in Iran and their diverse tastes when it comes to cars has resulted in a booming automobile industry in the country. This has caused an upsurge in all related industries also, particularly for the tire industry. The tire industry has responded to this upward trend in the market with more investments for enhancing the technical and performance aspects, so that they can stay up-to-date in a highly competitive market.
Report based on information provided by Hooman Tootoonchi
On the basis of Frost & Sullivan’s independent research, 2012 Saudi Arabia Best Cost of Servicing Award, Hyundai Motor Company, Saudi Arabia emerges as the best Vehicle Manufacturer in Segment B among surveyed vehicle dealerships. Thus, Hyundai Motor Company, Saudi Arabia is recognized as the “Overall Best Cost of Servicing Brand in Segment B, C, D, RV C, RV D” in the competitive GCC automotive market.
On the basis of Frost & Sullivan’s independent research, 2012 UAE Best Cost of Servicing Award, Hyundai Motor Company, UAE emerges as the best Vehicle Manufacturer in Segment B among surveyed vehicle dealerships. Thus, Hyundai Motor Company, UAE is recognized as the “Overall Best Cost of Servicing Brand in Segment B, C, D, RV C, RV D” in the competitive GCC automotive market.
Strategic Analysis of Auto Components Industry in the Gulf Cooperation Council
Strategic Analysis of Automotive Industry in the Gulf Cooperation Council (The GCC)
The automotive industry trade in Jebel Ali Free Zone (Jafza), the UAE’s flagship free zone, has achieved a staggering four-fold growth in the last decade, escalating from USD 1.1 billion in 2004 to USD 4.7 billion in 2013.
This information was revealed on the third week of September 2014 by Talal Al Hashimi, Chief Operating Officer of Economic Zones World (EZW), at the EZW Customer Forum for the automotive sector – a series of industry events commenced by Jafza to gather key players, Jafza management and stakeholders to deal with issues and have a constructive discussion on how to join forces to improve combined competitiveness by taking advantage of the budding opportunities in the region and tackling industry challenges in an effective and efficient manner.
Tire sales were dull in the second half for the European tire market, with sales of winter tires dipping due to a warm winter. Despite that, the outlook for 2015 appears to be bright with positive 2014 sales figures when the sales for the full year are considered.
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