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Back to pre-crisis peak

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New car sales in UAE on the rise

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June 12, 2013 8:58 by



New car sales in the United Arab Emirates are likely to jump above the peak achieved in 2008, said a leading figure in the country’s automobile sector on Tuesday.

According to Reuters, sales in the UAE have been on the rise as the country recovers from the debt crisis; assisted by an inflow of business and visitors seeking a safe haven.

“We are back after the global crisis,” said Michel Ayat, CEO of AW Rostamani Automotives, one of the biggest UAE dealerships, selling Nissan, Infiniti and Renault brands.

“This year, the UAE will sell more than the peak in 2008,” he told an HSBC automotive roundtable in Dubai.

Sales are on target for 380,000 vehicles this year, up by 23 per cent more than in 2012 and 40,000 more than in 2008, Ayat said. Sales in the first four months of the year are already at 118,000, against 96,000 in the same period last year.

Other industry forecasters have put the 2008 figure at 324,000, but the exact number is hard to verify, because official sales data is not available in the UAE and the Gulf region.

Reuters



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