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Wednesday, 10 August 2016

Truck sales down by c 27%

Truck sales declined 27.3% y-o-y in 1H16 to c19,000 trucks, down from 26,000 in 1H15. Pick-up truck sales fell by 15.1% to record c1,100 from 1,300 last year. Over to buses, where Suzuki and Chevrolet’s grew their market shares, reaching 30.5% and 21.5% respectively up from 21.5% and 17% in 1H15, placing them at first and second largest in the sector. An official told Al Mal that the slowdown in the tourism sector is largely to blame for the fall in demand for buses and trucks in recent months. As we noted yesterday, bus sales fell by 29.7% during the same period to 11,800 vehicles, down from c16,700 vehicles in 1H15. Fortunately, that includes microbuses.

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