This decrease marks the end of a four-month recovery in vehicle sales that began in October 2024, following a brief two-month slump after a period of growth from April to July.
This funding aims to attract investment partnerships in vehicle manufacturing while targeting an increase in locally sourced components to exceed 45% of total car production this year.
This positive market performance follows a challenging period for the auto industry, which was hit hard by a foreign exchange (FX) crisis that constrained vehicle supply and enabled distributors to raise prices.
The locally manufactured components in the assembly lines inaugurated today constitute 45%, according to a statement by Fahd Ali Al-Ghanim, Chairman of Auto Mobility Company.
This historic merger, which also includes smaller automaker Mitsubishi Motors, aims to consolidate their operations under a joint holding company, positioning the new entity behind only Toyota and Volkswagen in annual vehicle sales.
