Automotive market lost 46.5% of its sales during Q1 of 2017

In spite of the discounts offered by companies during February and March, the decline in car sales fell by 46.5% in the first quarter of 2017 compared to the same period of 2016. The market saw sales of 26,500 units compared to 49,600 units, according to the Automotive Marketing Information Council (AMIC).
The AMIC report showed that the demand on passenger cars during the first quarter of this year decreased by 41%, recording sales of 19,700 cars compared to 33,400 during the same period of 2016.

Bus sales fell by 54.8% to 2,955 compared with 6,539 units in the same period in 2016. Truck sales declined by 60%, as 3,888 trucks were sold compared to 9,735 trucks in 2016.

The report mentioned that the demand on locally assembled vehicles declined by 45.8% in the first quarter of this year, while sales of the imported units declined by 47%, recording sales of 13,400 units compared to 25,400 units the previous year.