The automotive industry is one of the world’s most prominent revenue-generating and fastest growing industries, comprising of manufacturers, suppliers, dealers, retailers and the like. As the industry is witnessing unparalleled changes, leading to aggressive competition in all segments of manufacturing, major automotive players are seeking special ways to reduce costs. There is also the increased pressure to standardize operational procedures in lines with global standards.
Car segment in Oman automotive market is projected to grow from $ 3.36 billion in 2017 to $ 4.23 billion by 2023, exhibiting a CAGR of around 5% during the forecast period. While commercial vehicle segment, which stood at $ 0.33 billion in 2017, is forecast to grow at a CAGR of 4.76%, to reach $ 0.37 billion by 2023. Growing oil production, increasing construction and infrastructure development activities, and rising promotional offers such as low or zero percent interest fee, cash gifts, and extended insurance and service plans are expected to boost automobile sales in the country during forecast period.
At Crowe Oman, we have extensive knowledge in a variety of fields pertaining to financial, managerial and advisory services. We have offered services to some of the leading automotive dealers in tackling major challenges through our advanced methods, thereby securing their place in the competitive world. Based on extensive research, our team also deals with industry stakeholders to develop strategies specifically designed to meet the requirements of the organization. In our zest to exceed client expectations, we always provide remarkable services and most modern procedures. We can assist automotive companies/dealers with the skills required to sustain in the rigorous competitive field, while contributing to the value of the organization.