Car sales are accelerating across the Middle East as consumer confidence remains strong despite changes to financing rules and supply issues.
Ford and Renault are two of the fastest growing brands across the Emirates, while 4x4s and cross-overs continue to drive the market.
General Motors enjoyed its 12th consecutive month of sales growth last month, up overall in the Middle East by 21 per cent in the third quarter to 35,565 cars, compared with the same period a year ago.
"September capped an outstanding 12 months for GM Middle East," said John Stadwick, the president and managing director for GM in the region.
Sales of 4x4s across General Motors three brands - Chevrolet, GMC and Cadillac - increased by 30 per cent in the three months until the end of last month and sales of crossover cars, those combining features of a 4x4 with features from a passenger vehicle, increased by 37 per cent in the same period.
Ford also had a robust quarter, topping off nine months of customers snapping up the US brand.
Its biggest 4x4, the Expedition, increased sales by 130 per cent in the first nine months and the new model Edge crossover jumped 70 per cent in the same period.
This compares with overall growth across all Ford models of 57 per cent in the Middle East and 37 per cent in the UAE in the same period.
"More and more customers are choosing Ford thanks to its strong new products, and this is helping us grow stronger and gain market share across the region," said Larry Prein, the managing director for Ford in the Middle East.
All dealers have had to adapt to a new financing landscape this year after the Central Bank introduced changes to lending rules, which mean customers now have to come up with a 20 per cent deposit to buy a car with a loan.
Many dealers now help customers by paying for deposit or by offering other perks, such as free insurance.
Car makers such as Nissan and Toyota have also had to deal with supply issues in the wake of the earthquake and tsunami in Japan in March.
Meanwhile, the French manufacturer Renault continues to build its footprint in the UAE. It is gaining a large following through social media and marketing, and by rolling out new products such as the Safrane saloon and the Megane hatchback.
Arabian Automobiles, the exclusive Renault, Nissan and Infiniti distributor in Dubai and the Northern Emirates, said sales increased 59 per cent in the eight months up to the end of August. Sales of Nissan increased 20 per cent despite supply issues and Infiniti grew 23 per cent, in the same period.
Emirates Motor Company, part of the Al Fahim Group, reported a 10 per cent increase in sales of Mercedes-Benz across Abu Dhabi in the first nine months of the year and 17 per cent growth in the third quarter. Sales of Jeep cars increased 21 per cent in the third quarter, driven by the new Gran Cherokee, it said.
"The market is definitely stronger, but sales have been helped by new products," said Chris Preston, the chief executive of automotive at Al Fahim. "We have had some great financing rates from the banks, which has galvanised people into action, but I also think the underlying picture in Abu Dhabi is getting stronger."
In the luxury segment, car makers indicate sales are set to grow by a record 20 per cent this year, according to numbers this week from IHS Automotive, a consultancy. The figure is more than double the growth in the previous year of 9.7 per cent.
rjones@thenational.ae
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
UAE%20ILT20
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COMPANY%20PROFILE%20
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The%20specs
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
The stats: 2017 Jaguar XJ
Price, base / as tested Dh326,700 / Dh342,700
Engine 3.0L V6
Transmission Eight-speed automatic
Power 340hp @ 6,000pm
Torque 450Nm @ 3,500rpm
Fuel economy, combined 9.1L / 100km
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
THE%20SPECS
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PREMIER LEAGUE FIXTURES
Saturday (UAE kick-off times)
Watford v Leicester City (3.30pm)
Brighton v Arsenal (6pm)
West Ham v Wolves (8.30pm)
Bournemouth v Crystal Palace (10.45pm)
Sunday
Newcastle United v Sheffield United (5pm)
Aston Villa v Chelsea (7.15pm)
Everton v Liverpool (10pm)
Monday
Manchester City v Burnley (11pm)
8 UAE companies helping families reduce their carbon footprint
Greenheart Organic Farms
This Dubai company was one of the country’s first organic farms, set up in 2012, and it now delivers a wide array of fruits and vegetables grown regionally or in the UAE, as well as other grocery items, to both Dubai and Abu Dhabi doorsteps.
www.greenheartuae.com
Modibodi
Founded in Australia, Modibodi is now in the UAE with waste-free, reusable underwear that eliminates the litter created by a woman’s monthly cycle, which adds up to approximately 136kgs of sanitary waste over a lifetime.
www.modibodi.ae
The Good Karma Co
From brushes made of plant fibres to eco-friendly storage solutions, this company has planet-friendly alternatives to almost everything we need, including tin foil and toothbrushes.
www.instagram.com/thegoodkarmaco
Re:told
One Dubai boutique, Re:told, is taking second-hand garments and selling them on at a fraction of the price, helping to cut back on the hundreds of thousands of tonnes of clothes thrown into landfills each year.
www.shopretold.com
Lush
Lush provides products such as shampoo and conditioner as package-free bars with reusable tins to store.
www.mena.lush.com
Bubble Bro
Offering filtered, still and sparkling water on tap, Bubble Bro is attempting to ensure we don’t produce plastic or glass waste. Founded in 2017 by Adel Abu-Aysha, the company is on track to exceeding its target of saving one million bottles by the end of the year.
www.bubble-bro.com
Coethical
This company offers refillable, eco-friendly home cleaning and hygiene products that are all biodegradable, free of chemicals and certifiably not tested on animals.
www.instagram.com/coethical
Eggs & Soldiers
This bricks-and-mortar shop and e-store, founded by a Dubai mum-of-four, is the place to go for all manner of family products – from reusable cloth diapers to organic skincare and sustainable toys.
www.eggsnsoldiers.com
COMPANY%20PROFILE
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
WHAT%20MACRO%20FACTORS%20ARE%20IMPACTING%20META%20TECH%20MARKETS%3F
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