73211
Woman Drivers Could Boost Saudi Auto Market
Economy, Auto

Woman Drivers Could Boost Saudi Auto Market

Saudi Arabia has lifted a ban on women driving, and the move could give a boost to an auto market in the country that’s been declining. After years of trending up and pushing toward 1 million in annual sales, 2016 saw the Saudi market swoon, plunging by almost 30%, Business Insider reported. The key factor has been the lower price of oil globally, which has spurred a sales boom in places like the SUV-loving US but curtailed spending in Saudi Arabia. Women behind the wheel in the kingdom could moderate the decline, although reversing it is unlikely. In Saudi Arabia, women were banned from driving, not from buying, cars. But with a young population, more women both learning to drive and entering the market as new buyers, some of the ambitions for the scale of auto sales could be reset. “Demand could get an extra fillip if Saudi women ever gain the right to drive,” The Economist argued back in 2013. The Economist Intelligence Unit rightly forecasted improved growth back then, but it was wrong in expecting a 1-million sales market by 2017.

 

Short URL : https://goo.gl/A7Bz5A
  1. https://goo.gl/UF5Pkn
  • https://goo.gl/McWSG5
  • https://goo.gl/CkJd4U
  • https://goo.gl/HLt3Uo
  • https://goo.gl/9gNxFV

You can also read ...

Effects of Sanctions on Food Consumption of the Poor
It is now clear that the purpose of US sanctions against Iran...
TEDPIX Gains 2,718 Points
Tehran Stock Exchange’s main index gained 2,718.23 points or 2...
Optimism Over Prospects of Iran Stocks Performance
The latest Consensus Earnings Report shows the price to...
New Online System to Monitor Warehouses Countrywide
All warehouses in Iran are required to register in the so-...
Sesame Oil, Products Imported From  6 Countries
More than 1.38 million tons of sesame oil and products worth $...
New Iranian Company Repairs Passenger Wagons
Novin Sanat Raja Company, a subsidiary of Raja Railway...
IKCO Starts New Presales
Major local carmaker Iran Khodro has introduced a special...
Saqqez Airport to Be Ready  in 2 Years
The construction of Saqqez Airport, located 266 kilometers...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus