(MENAFN) The Gulf region's aftermarket recorded a significant growth with total consumption last year likely to have reached USD7.5 billion, Xinhuanet reported.
The automotive aftermarket industry in the six oil-rich countries of the Gulf Cooperation Council (GCC) offers a USD1 billion opportunity.
Taking the U.S. aftermarket industry into consideration which registered a 3.5 percent increase in 2012, the GCC's aftermarket sector has also seen significant growth, "with total consumption for the same year estimated to reach as much as USD7.5 billion," the firm's study said.
Dips in automotive sales, an aging vehicle population and a challenging economy have presented USD1 billion opportunities for the automotive aftermarket industry, said the managing director of UAE-based A-MAP, the region's leading distributor of aftermarket automotive spare parts, batteries, tires and lubricants when commenting on the study.
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